The Rupee today gained 8 paise to close at two-week high of 64.04 against the US currency helped by dollar selling .
The dollar gained more ground against the yen and the euro on Friday as traders bet Federal Reserve chief Janet Yellen would promise to push forward with plans for tighter monetary policy. She was to speak at the meeting of central bankers in Jackson Hole, Wyoming. The debate in Congress over raising the government’s debt ceiling has begun to loom over the U.S. currency, with lawmakers expected to have just two weeks to agree a deal when they return in September.
• United States CFTC Gold NC net positions rose from previous $187.7K to $208.4K.
• European Monetary Union CFTC EUR NC net positions rose from previous €79.3K to €88K.
• United States CFTC USD NC net positions fell from previous $150.2K to $142.1K
USDINR again faced stiff resistance near higher levels and closed on flat note with negative bias.
It closed around the key support mark of 64.0000 sustaining below which further drag towards lower levels while 64.2000 can may act as immediate resistance.
EURINR traded in the same range as of previous session and closed on a flat note.
The currency pair had been moving in a specific range and it needs a proper breakout on either side to decide the trend further where 75.2000 is seen as support.
GBPINR continued the bears since several sessions and closed a weak note.
It is near to the important psychological mark of 82.0000 sustaining below which can drag it to next support whereas 82.4000 may resist to move northwards.
JPYINR faced resistance at higher levels and dropped to close in red territory.
On lower side, if it holds below the support of 58.5000 then selling pressure may enhance whereas 59.0000 may continue to act as strict resistance.
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