The Rupee retreated from a one-month high and was trading 5 paise higher at 68.38 against the greenback in late morning deals on bouts of dollar demand from importers and banks amid lower local equities.
Most Asian currencies weakened against the dollar on Thursday as U.S. President Donald Trump raised the stakes in the trade dispute with Beijing with a threat to slap even higher tariffs on Chinese imports up from an earlier 10 percent quote.
• Dollar rallies on renewed trade war worries and upbeat Fed.
• Euro weakens to one-week low as dollar gains.
• Yuan, Aussie dollar pressured by trade conflict concerns.
• Sterling slides ahead of expected BoE rate hike.
• BoE Monetary Policy Committee voted unanimously to raise Bank Rate to 0.75%.
USDINR showed positive movements and closed around its day high.
Currency pair again showed strength and found resistance around its psychological level, if sustains above it then shows bullish rally towards next resistance zone. EURINR showed sideways to positive movements after negative opening closed with loss.
If continue bullish movements then immediate resistance is seen around 80.4000 above which it may find next resistance at 80.6000 level.
GBPINR showed positive movements and closed with partial gain.
Currency found strong resistance around 90.7000 level and showed correction if continue negative movements then it may find support near 89.8000. JPYINR showed positive movements throughout the session closed with gain.
Now, 62.0000 is act as immediate resistance for it sustaining above which bulls may active and take it towards next resistance level.
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