Myiris News: Myiris Currency Outlook from Brokers

Myiris.com has collated views on pros on the money markets for today. The same are as under:

ICICI Securities:

ICICI Securities suppose the US dollar to continue weak against the INR. Utilise the highs in the USD/INR November contract to market underneath 44.74 amid destination of 44.59/44.53 and a halt decrease of 44.82,`` it notes.

In the cash futures market, the several traded near-month dollar-rupee contract on the NSE closed at 44.70. The USD/INR November contract open loan was up by 13.0%. The December contract observed a appreciate in open loan by 21.1%.`` it notes.

Anagram: ``Indian rupee may own a mixed craft today in Asia as in spite of US dollar has recovered against few majors in the wake of stronger-than-expected manufacturing data, that lessened projections U.S. Fed is planning to announce aggressive bond purchasing service tomorrow but few Asian currencies are a great deal acting steady against the dollar. Also at home, monetary policy meeting is a key happening that needs to be watched cautiously. Economist`s expectation of 25 bps hike in Repo, Reverse repo height is able to undergo temporary definite decrease on rupee but during path of the time, it should fade gradually. On the flip side, a pause in the decision may exert pressure on the currency,`` notes brokerage structure Anagram.

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Source:http://www.myiris.com/newsCentre/storyShow.php?fileR=20101102095007203&dir=2010/11/02