The Rupee dropped from initial gains and was trading down by 9 paise at 67.10 against the American unit in late morning deals on sustained bouts of dollar demand from importers and banks despite higher domestic equities.
Bank of Japan’s monetary policy decision has been released, with the Central Bank keeping rates unchanged at -0.1% and keeping monetary policy base unchanged at 80 trl yen. Treasury yield curve steepened after the Bank of Japan (BOJ) kept rates unchanged and said it would keep 10-yr yield around zero percent.
- BOJ keeps rates unchanged at -0.1%, abandons monetary base target.
- Yen recovers amid scepticism about BOJ’s latest policy tweak.
- Asia FX slumps after BOJ policy overhaul; Fed signals eyed.
- United Kingdom Public Sector Net Borrowing came in at £10.051B below forecasts (£10.3B) .
USDINR gained for the first half of the sessions and dragged thereafter to close in red.
On daily charts, it again resisted near 100 day EMA and 67.3000 appears as important resistance, It needs to break the range on either side to determine the trend.
EURINR again dragged after the pull back so shown in previous session.
On lower side, 74.7500 may act as key support and any closing below it can further drop the counter towards deeper supports.
GBPINR corrected after a strong bearish attack over last few sessions and finally settled on a green note.
Now, 87.0000 is seen as major psychological support mark which can be a pullback point for the counter. On higher side, key resistance is seen near 87.7000.
JPYINR witnessed a volatile session on back of monetary policy statement and closed the session on positive note.
On higher side, 66.5000 may act as crucial resistance for the counter while buy on dips can be seen for the coming session.
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