The Rupee appreciated nearly 7 paise to 67.69 against the US dollar on Wednesday on account of some selling of the American currency by bank and exporters. The Office for National Statistics noted on Wednesday, the UK’s official jobless rate ticked lower to 4.8% in September, the lowest since Q3 2005, however, the claimant count reached the highest levels since May this year. The Average Earnings Index remained unchanged at 2.3% in the last month.
• Dollar hits fresh 11-month highs on Fed, Trump bets.
• Yuan at 8-yr low as China-critic Trump prepares to take office.
• UK Claimant Count Change above expectations (2K) in October: Actual (9.8K).
• UK ILO Unemployment Rate (3M) below forecasts (4.9%) in September: Actual (4.8%).
USDINR extended the gains by inching higher throughout the session and closed on a strong note.The counter was able to close above 68.0000 mark which is a strong signal and now the next resistance is seen near 68.3000 while near support is seen around 67.7000.
EURINR sustained on lower sides after weak opening of the session and closed in red territory.The pair is finding strong support around 72.6500 as seen on daily chart and the pair needs to sustain above 73.0000 to gain some momentum on higher sides.
GBPINR showed range bound movement but was able to sustain at higher levels.On daily chart, major resistance range is seen near 85.0000-85.3000 while holding below 84.3000 can be a weak sign for the pair.
JPYINR extended the bears in the entire session and closed the session with loss.If the selling pressure in the pair continues then it may drop towards the near support of 61.7500 whereas 62.5000 is seen as stiff resistance for it.
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