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Market Outlook

Indian Rupee appreciated during the day against the greenback after following weak trend in last few sessions and closed strong.

The pound rose for the first time since the UK’s vote to leave the European Union, as a recovery in investor appetite for higher-yielding assets seeped through currency markets and sapped demand for the dollar and the yen as havens. Sterling rose against most of its Group-of-10 counterparts as EU leaders gather in Brussels for the start of a two-day European Council summit to discuss Britain’s decision to leave the bloc.

Fundamental News

  • Asia FX firms as immediate Brexit shock fades.
  • Yen up, sterling steadies but post-Brexit sentiment remains fragile.
  • China’s yuan lingers near 5.5-yr low as c.bank stays on sidelines.
  • Pound gains for first time after Brexit.

USDINR

USDINR dragged on lower side during the session after the strength shown by the pair in the last session.

Rupee appreciated against the dollar due to which the pair may fall towards 67.8000 if continues to fall while strength can be seen above 68.2000.

USD

EURINR

EURINR opened gap down and sustained on ower side for the entire session.

On intraday charts, immediate resistance is seen around 75.5000 while weakness can be seen if the pair sustains below 75.1000.

EUR

GBPINR

GBPINR is moving in sideways manner with positive bias and closed near to resistance levels.

If it surpasses the three day consolidation range of 91.6000 then it may be seen in the next resistance range of 92.0000-92.6000 whereas 90.8000 is the key support.

GBP

JPYINR

JPYINR is falling down since last three successive sessions and hence closed on weak note.

On daily charts, it intends o slip towards the near and key support of 65.5000 while strength can now be seen if it sustains above 66.7000-67.0000 resistance range.

JPY

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