The rupee on Monday opened 7 paise down at 64.65 against the dollar on account of selling of American currency by banks and exporters.
The dollar recovered some ground on Monday, as a rise in US government bond yields to their highest in seven weeks helped halt a run of losses that added up to the currency’s worst quarter since 2010.
Yuan weakened against after a softer official fixing on Monday, snapping the currency’s 4-day winning streak’ while the launch of a bond trading scheme between China and Hong Kong had little impact.
• European Monetary Union Services Sentiment came in at 13.4, above expectations (12.9) in June.
• South Africa Producer Price Index (MoM) above forecasts (0.4%) in May: Actual (0.5%).
• United Kingdom M4 Money Supply (YoY) fell from previous 8.2% to 6.7% in May.
USDINR opened with positive bias sustain on higher levels and closed around its resistance.
After reversal pattern made on previous trading session, showed strength and closed around its resistance if sustain above 65.1000 than more positive movements were expected.
EURINR opened with partial gain showed sideways movements and closed on flat note.
If the currency pair sustains below the mark of 73.9500 then it may drop towards the support of 73.8000-73.6000 whereas 74.5000 is seen as stiff resistance.
GBPINR tried to continue the rally but selling pressure so witnessed in the second half made it to close in red.
On higher side, 84.7000 is seen as stiff resistance surpassing which can carry the pair higher while 84.0000 may act as immediate support for it.
JPYINR opened with negative bias and closed around its strong support level.
Currency pair is closed around its key support level shows more selling pressure if sustain below it whereas 58.0000 is act as resistance for it.
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