The U.S. dollar slid against other major currencies as markets awaited testimony from Federal Reserve Chair Janet Yellen. The dollar index measuring the greenback against six currencies was down 0.28%. Yellen will present the Fed's monetary policy report and investors will watch for clues about future interest rate increases. The chance of a rate hike in June is seen as just below 50%. The dollar also fell after President Trump's national security adviser Michael Flynn resigned amid allegations about discussing sanctions with Russia.

1. Currency Highlights
15th
Feb’2017
HighLights:
The U.S. dollar slid lower against a basket of the other major curren-
cies on Tuesday as markets awaited testimony from Federal Reserve
Chair Janet Yellen later in the trading day.
The U.S. dollar index, which measures the greenback’s strength
against a trade-weighted basket of six major currencies, was down
0.28% to 100.73, pulling back from Monday’s high of 101.11, the most
since January 11.
Yellen will present the Fed’s report on monetary policy and the econo-
my in testimony to the U.S. Senate on Tuesday and the House on
Wednesday and investors will be watching her comments for clues on
when the U.S. central bank could raise interest rates next.
According to Investing.com's Fed Rate Monitor Tool less than 15% of
traders expect the Fed to raise interest rates at its next meeting in
March. The chance of a June increase is seen at just below 50%.
The dollar came under additional selling pressure after President Donald Trump's national security adviser Michael Flynn re-
signed late Monday amid allegations that he discussed the possibility of lifting sanctions with Russia before Trump took office.
Demand for the dollar had been boosted in recent sessions after recent remarks from Trump indicated that his administration
would soon reform tax policy.
Japanese Prime Minister Shinzo Abe said Tuesday that he agreed with Donald Trump at a weekend summit that currency is-
sues would be best left for finance leaders of each country to discuss.
Meanwhile, sterling was slightly higher, with GBP/USD edging up 0.1% to 1.2536 ahead of UK inflation data which was ex-
pected to show another jump in the cost of living.
The pound fell to the day’s lows against the dollar on Tuesday after the latest UK inflation report showed that while the cost of
living rose in January the increase disappointed expectations for an even sharper rise.
Consumer prices rose 1.8% compared with a year earlier, the Office for National Statistics said, slightly below economists' ex-
pectations for a 1.9% rise and up from 1.6% in December.
Earlier this month, the Bank of England said it sees inflation running at 2% this year, slightly higher than its previous forecast of
1.8% made in its November inflation report.
Excluding oil prices - which have risen sharply in recent months - and other volatile components such as food, core consumer
price inflation was 1.6%, compared with economists' expectations for 1.8%.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Last PrevCl. PriceChng PriceChng%
DollarIndex 100.84 101 (0.16) (0.16)
USD/INR(Spot) 66.95 66.96 (0.01) (0.01)
USD/INR(NseFeb) 67.03 67.11 (0.08) (0.12)
EUR/INR(Spot) 71.09 70.98 0.11 0.15
EUR/INR(NseFeb) 71.24 71.50 (0.26) (0.36)
GBP/INR(Spot) 83.45 83.88 (0.43) (0.52)
GBP/INR(NseFeb) 83.66 84.07 (0.41) (0.49)
JPY/INR(NseFeb) 59.04 59.07 (0.03) (0.05)
MarketHighlights

2. Technical View:
On a daily chart, the pair has given the breakdown of its
rising channel pattern at 59.50 levels.
The pair has been trading in horizontal channel pattern
from past few weeks and price has faced the resistance
of its upper band at 60.50 levels on the hourly chart.
Moreover, prices have been trading below its 21 DSMA
which gives the sign of bearishness in the prices.
On daily chart momentum indicator, RSI is trading below
60 levels which indicate downside momentum can be
seen in the prices.
In addition, momentum indicator MACD has shown neg-
ative crossover which suggests a lack of strength in the
prices on the hourly chart.
So for trading perspective, one can JPYINR sell in the
range of 59.20 with SL of 59.55 for the target of 58.60
levels.
Pivot levels for the Day
Technical View:
The pair has been trading in falling channel pattern from
past few weeks and price has taken the support of its
lower band of channel pattern at 66.70 levels on the
hourly chart.
Moreover, prices have been trading above its 21 HSMA
which gives the sign of bullishness in the prices.
A momentum indicator RSI has taken support at 25 lev-
els, which suggest further positive momentum can be
seen in the prices.
In addition, momentum indicator MACD has shown pos-
itive crossover and moving above its signal line on an
hourly chart.
So for trading perspective, one can buy USDINR in range
66.95 with SL of 66.75 for the target of 67.40.
Currency Highlights
15th
Feb’2017
USDINR JPYINR
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
USDINR 66.86 66.95 66.99 67.04 67.08 67.13 67.22
JPYINR 58.70 58.91 59.03 59.12 59.24 59.33 59.54

3. Pivot levels for the Day
Currency Highlights
15th
Feb’2017
GBPINR EURINR
Technical View:
The prices have been trading in falling channel pattern
from past few months and price has faced the re-
sistance of its upper band of channel pattern at 73 lev-
els on a daily chart.
The pair has been trading below its 21 DSMA on the
hourly chart, which suggests further weakness can be
seen in the prices.
On daily chart momentum oscillator, RSI has been mov-
ing below 50 levels on the hourly chart, which suggests
bearishness in the prices.
A momentum indicator MACD has shown negative
crossover on the hourly chart, which supports our bear-
ish view on the prices.
For now, we can expect prices should move lower to-
wards 70.30 levels in the coming trading session.
Technical View:
The pair has been trading in symmetrical triangle for-
mation from past few weeks and price has faced the
resistance of its upper band of the pattern at 85.80 lev-
els on the daily chart.
Moreover, prices have been trading below 21 DSMA,
which suggest short term trend looks down.
Moreover, momentum indicator MACD has given nega-
tive crossover on a daily chart, which gives the sign of
bearishness in the prices.
The momentum indicator RSI has been trading below
60 levels on the daily chart, which suggest the possibili-
ties of further downside momentum in the prices.
For now, we expect prices should move lower to-
wards 83 levels coming trading sessions.
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
S3 S2 S1 Pivot R1 R2 R3
GBPINR 82.45 83.11 83.37 83.77 84.03 84.43 85.09
EURINR 70.89 71.07 71.16 71.25 71.34 71.43 71.61

4. Currency Highlights
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
15th
Feb’2017
Economic Indicators
Date Time Data Prior Expected Impact
15.02.17 03:00 PM Average Earnings Index 3m/y 2.8% 2.8% Actual > Forecast = Good for
currency; GBPINR
15.02.17 03:00 PM Claimant Count Change -10.1K 1.1K Actual < Forecast = Good for
currency; GBPINR
15.02.17 07:00 PM CPI m/m 0.3% 0.3% Actual > Forecast = Good for
currency; USDINR
15.02.17 07:00 PM Core CPI m/m 0.2% 0.2% Actual > Forecast = Good for
currency; USDINR
15.02.17 07:00 PM Core Retail Sales m/m 0.2% 0.4% Actual > Forecast = Good for
currency; USDINR
15.02.17 07:00 PM Retail Sales m/m 0.6% 0.1% Actual > Forecast = Good for
currency; USDINR
15.02.17 08:30 PM Fed Chair Yellen Testifies More hawkish than expected =
Good for currency; USDINR
15.02.17 09:00 PM Crude Oil Inventories 13.8M

5. Currency Highlights
15th
Feb’2017
SEBI Certified – Research Analyst Equities I Commodities I Currencies I Mutual Funds
Amit Pathania
Digitally signed by Amit Pathania
DN: cn=Amit Pathania, o=Choice Equity Broking Pvt. ltd,
ou=Research Department,
email=amit.pathania@choiceindia.com, c=IN
Date: 2017.02.14 22:05:24 +05'30'