Rupee extended its ongoing rally and opened 3 paise up at 63.67 against the US currency on Thursday after the RBI cut the repo rate by 25 basis point on Wednesday. The currency is hovering around over 2-year high levels.
An under-pressure dollar was flat on Thursday, holding above a 2.5 year low hit in the previous session as investors readied for US jobs data. The dollar index, which measures its value against a basket of six major currencies, rose about 0.1 per cent to 92.940. On Wednesday, it slid to 92.548, its weakest since May 2016.
• European Monetary Union Retail Sales (YoY) above expectations (2.6%) in June: Actual (3.1%).
• United Kingdom Markit Services PMI above forecasts (53.6) in July: Actual (53.8).
• Germany Markit Services PMI registered at 53.1, below expectations (53.5) in July.
USDINR traded in the same range as of previous session and closed on a flat note with positive bias.
Weakness in the currency pair may continue till it sustains below the mark of 64.0000 whereas 63.5000 may act as important support from current level.
EURINR remained in the same zone as of previous trading session and closed flat.
Now, on daily chart, any closing below 75.5500 can further drag the currency pair on lower levels while 76.0000-76.2000 is seen as resistance range.
GBPINR continued the previous day’s downfall and closed on weak note.
Now, 84.0000 is seen as immediate crucial mark sustaining below which can drag it lower whereas 84.5000-84.7000 is seen as resistance.
JPYINR found support at lower levels and gained momentum in the last trading hour.
On higher side, 58.0000 may resist the currency pair to move upwards while 57.6500 is seen as key support below which it will weaken.
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