The Rupee has strengthened significantly this year and going forward it is expected to remain range-bound and average around 64.3 this fiscal, an UBS report says.
The dollar skidded to an eight-week low against the yen on Friday as escalating tensions between the United States and North Korea triggered yet more investor flight to safety. The dollar last changed hands at 108.96 yen, down 0.2 per cent. Trading was thinner than usual, with Japanese markets closed for a public holiday.
- Italy Consumer Price Index (EU Norm) (YoY) in line with forecasts (1.2%) in July.
- France Nonfarm Payrolls (QoQ) above forecasts (0.4%) in 2Q: Actual (0.5%).
- Turkey Current Account Balance above expectations ($-3.9B) in June: Actual ($-3.763B).
USDINR opened higher and sustained at higher levels throughout the session to close on a flat to positive note.
On higher side, 64.5000 is seen as important resistance while the mark of 64.0000 is seen as strong support which may prevent its downfall.
EURINR sustained at lower levels in last two sessions and showed a pull back in the previous session.
If the bull move continues then 76.0000 will be marked as important resistance whereas 75.3000 is seen as immediate support for the counter.
GBPINR managed to sustain in the same range as of previous session and closed on a flat note.
On moving northwards, the currency pair may find 83.8000-84.0000 as the resistance range whereas 83.3000-83.0000 may continue to act as the support range.
JPYINR jumped from the previous close and sustained at higher levels throughout the session.
If the currency pair maintains above the mark of 59.0000 then further up move can be seen while any correction may drop the pair towards immediate support of 58.5000.
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