Daily Market Review

RR Financial Consultants

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Review- 

• The key benchmark indices slumped, reversing an initial rally, as the dollar index, which tracks the greenback against a trade-weighted basket of six major counterparts, climbed roughly half a percent to a six-week high of 76.741. The dollar's strength sparked fears of unwinding of dollar carry trade in which investors borrow in US dollars and invest it in high-yielding currencies and assets elsewhere. The dollar has been under pressure this year on speculation the US Federal Reserve will keep interest rates low for a prolonged period of time to aid recovery in the US economy. European shares and US index futures reversed initial gains

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