# Sell USDINR; target of 70.90 - 70.80: ICICI Direct- Moneycontrol.com

> ICICI Direct recommends selling USDINR with a target of 70.90 to 70.80, expecting supply pressure at higher levels. It notes the Fed cut rates but signalled a hold, and that the yuan has appreciated toward 7.05 per dollar.

- Date: 2019-10-31 · published 2019-10-31T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/56844-sell-usdinr-target-of-70-90-70-80-icici-direct-moneycontrol-com
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A stronger yuan and softer dollar are positive for emerging-market currencies, which can ease the cost of imported feed ingredients for Indian buyers.

## Read by commodity

- USDCNY: bearish ▼
- USDINR: bearish ▼

## Sources

- moneycontrol.com: https://www.moneycontrol.com/news/business/stocks/sell-usdinr-target-of-70-90-70-80-icici-direct-4589071.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.