Dollar/Rupee The USD/INR has turned choppy after an attempt to rise. The trend is likely to remain so and we do not expect it to become directional very soon.

Euro/Dollar We had mentioned last week that the base for the present move is at 1.30. So far the Euro has stayed above this base. However a move below 1.30 can have negative short term implications for the trend. It is a wait & watch for now.

Dollar/Yen The USD/JPY continues consolidating after a firm rally. However, we would continue to see a move below 82.00 as a signal of weakness in the trend.

Dollar Index DXY The uptrend in the DXY has begun to subside. Weakness can accelerate if the DXY moves below 79.75. Until then we remain of the view that the moves can be range bound and non directional.