The Rupee on Monday weakened marginally against the US dollar tracking losses in the Asian currencies markets. Asian currencies were trading lower after the US dollar rebounded from a 2015 low amid easing concern over Hurricane Irma and as the United Nations prepared to vote on tougher North Korean sanctions.
The dollar edged higher on Monday after posting its biggest weekly drop in two months as a decline in risk aversion spurred some investors to cover their short positions before US inflation data later this week.
• Euro dips below $1.20 level on Coeure remarks.
• Risk appetite props up dollar after worst week in two months.
• China raises yuan rate to 16-month high as dollar sags.
• Italy Industrial Output w.d.a (YoY) above forecasts (3.8%) in July: Actual (4.4%).
USDINR moved in a specific range and mainly hovered around the mark of 64.0000.
If the currency pair is able to sustain above 64.1000 then it may further move higher whereas 63.7000 is still seen as major support.
EURINR resisted at higher levels and opened on lower note in the last session.
The currency pair needs to sustain above the mark of 77.0000 to continue its bullish moves whereas 76.5000 is seen as near support.
GBPINR continued the bull moves for the sixth consecutive session and closed on a stronger note.
Moving further northwards may find 84.8000-85.0000 as important resistance range while 84.1000 may act as important support.
JPYINR opened gap down and sustained on lower levels for the entire session.
If the counter holds below the mark of 59.0000 then it may further drop down towards deeper supports whereas 59.4000-59.6000 may act as key resistance range.
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