The Rupee lost further ground today and finished lower by 8 paise at 64.24 a dollar on sustained month-end demand for the US currency from importers and banks.
The dollar traded lower against a basket of major currencies on Friday, as sluggish U.S. economic data weighed on sentiment while the euro surged to a five-month high, U.S. President Donald Trump said on Friday that the United States should be able to boost gross domestic product growth far beyond its current levels over time.
• Japan CFTC JPY NC net positions rose from previous ¥-30.5K to ¥-26.9K.
• Colombia Interest rate fell from previous 7.25% to 6.5% in April.
• European Monetary Union CFTC EUR NC net positions climbed from previous €-21.6K to €-20.9K.
USDINR continued the up move so seen in the last session and closed in green territory.
If it moves higher, then the currency pair will find immediate resistance near to 64.8000 whereas 64.3000-64.2000 is seen as immediate support range.
EURINR opened on lower note but gained momentum since the beginning of the session and closed higher.
If it surpasses the resistance of 70.8000 then it may move towards the next resistance of 71.0000 whereas 70.0000 will continue to act as key support.
GBPINR surpassed and gave breakout from the immediate resistance on daily chart and closed higher.
If the currency pair continues the positive momentum then 83.8000-84.0000 is seen as key resistance range while 83.1000 may act as important support for the currency pair.
JPYINR inched higher from the previous close and closed in green.
If the currency pair sustains above 58.0000 mark then it may move higher towards the next resistance of 58.5000 while 57.4500 is the immediate support.
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