The rupee on Wednesday opened 15 paise down at 64.55 against dollar on account of buying of American currency by banks and importers.
Sterling climbed and British bond futures dipped on Tuesday, after data showed UK inflation unexpectedly hit its highest level in nearly six years in November, putting pressure on the Bank of England to raise interest rates again next year. The dollar slipped from a four-week high against a basket of currencies on Wednesday after a Democrat won a bitter fight for a US Senate seat in deeply conservative Alabama.
• South Africa Retail Sales (YoY) below expectations (5.3%) in October: Actual (3.2%).
• European Monetary Union Employment Change (QoQ) meets expectations (0.4%) in 3Q.
• Germany Consumer Price Index (MoM) meets expectations (0.3%) in November.
USDINR pair opened the session with gap up but unable to hold its upper level, closed the session near to its days low.Now, 64.4000 act as an immediate support level below this it may test next support of 64.2000. 64.70000 is resistance mark.
EURINR pair witnessed selling pressure throughout the day and closed the session with negative bias.It has major support level at 75.7000 below this more selling may be expected. On Upper side 76.2000 is good resistance level.
GBPINR pair has given bounce back from its support level and closed the day with positive note. For upcoming session if it manages to hold above 86.4000 level then upside movement can be seen toward 86.7000 where as 86.0000 act as psychological support level.
JPYINR pair drags from its higher level but bounce back after testing its support and settled the day with some gain.
Now, 56.8000 is act as support below this selling can be seen towards next support 56.6000. On northward side 57.2000 is resistance level.
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