The Rupee on Monday opened 9 paise down at 64.41 against dollar on account of selling of American currency by banks and exporters.
The dollar fell to a 13-month low against a trade-weighted basket of currencies on Monday, weighed down by softening US Treasury yields and weak data that is undermining the case for a further rise in interest rates this year. On Monday, the dollar index, measuring the currency’s strength against a basket of other currencies, fell to 93.823, its lowest level since June 2016.
• European Monetary Union Markit Manufacturing PMI registered at 56.8, below expectations (57.2) in July.
• Germany Markit PMI Composite registered at 55.1, below expectations (56.3) in July.
• France Markit Services PMI came in at 55.9, below expectations (56.7) in July.
USDINR traded in the same range as of previous session and ended on a flat note.
On higher side, 64.5000 is still resisting it to move northwards whereas 64.3000 is seen as important support for the counter.
EURINR opened on positive note but dragged gradually to settle the session on flat note.
The currency pair needs to sustain above the mark of 75.0000 to continue the up move whereas 74.5500 can be seen as major support.
GBPINR found support at lower levels and gradually moved towards immediate resistance levels.
Now, closing above 84.1000 can further ignite the counter to show up move while 83.4500 might continue to act as important support.
JPYINR jumped to breach the important resistance level and closed higher.
Closing above 58.0000 indicates strength in the currency pair and may move towards the next resistance of 58.3000 while 57.8000 may now act as key support.
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