Market Outlook
Extending its losses on second day, the Indian rupee made a fresh record low of 71.0775 and throughout the day swing in the range of 71.0775 and 70.7600 against the US dollar. The Rupee kept underperforming due to high demand of dollar from importers, mainly oil refiners in view of surging crude oil prices and sustained capital outflows. On the flip side, for a fifth consecutive session, the US dollar fell as easing concerns over trade conflicts fuelled appetite for riskier currencies though thin month-end markets checked losses. Kiwi plunged as much as 1 % after business confidence sunk to a decade low in August.
Fundamental News
• European Monetary Union Services Sentiment below expectations 15.1 in August: Actual 14.7.
• Greece Producer Price Index (YoY) remains unchanged at 8.2% in July.
• United Kingdom Net Lending to Individuals (MoM) came in at £4B, below expectations £5.5B in July.

USDINR showed positive movements throughout the session closed with gain.
Currency pair found resistance around psychological level of 71.0000 if sustain below it in upcoming session then some correction can be seen in it.

EURINR showed sideways to positive movements after bullish opening closed with positive bias.
Sustaining above 83.0000 mark suggesting positive movements in it and may find next resistance around 83.5000 level.

GBPINR open with positive bias and closed with positive note.
Now, 92.6000 is act as strong resistance zone for the currency pair if continue to trades below it in upcoming session then some correction is expected.

JPYINR open with negative bias unable to sustain on lower levels showed correction closed with partial loss.
Currency pair found strong support on lower levels trades around its resistance, positive movements were seen if sustain above it.

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