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US-China trade talk to guide currencies this week: Gaurang Somaiya, MOFSL


US-China trade talk to guide currencies this week: Gaurang Somaiya, MOFSL

Rupee appreciation could continue further. On the higher side, 69.80 and 70.05 can act as resistance levels.

Dollar index has continued to remain under pressure. Plunge in global crude oil prices is also a major factor that has led to the appreciation in rupee.

During this week, 69 to 70 range could still be holding on but overall bias will be on rupee appreciation, says Gaurang Somaiya, currency analyst, Motilal Oswal Financial Services (MOFSL).

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