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Market Outlook

The rupee is seen to be better placed compared with other emerging market currencies as the Indian economy is less vulnerable to protectionist policies expected from US President Donald Trump. After Trump’s election victory, the rupee has outperformed several emerging market currencies.
The dollar slid against a basket of the other major currencies on Monday as immigration restrictions put in place by President Trump underlined concerns over the economic impact of the new administration’s policies.

Fundamental News

•    Austria Producer Price Index (MoM) rose from previous 0.2% to 0.6% in December.
•    Denmark Industrial Outlook fell from previous -1 to -4 in February.
•    Switzerland KOF Leading Indicator below expectations (103.3) in January: Actual (101.7).

USDINR

USDINR gradually dragged since the start of the session and finally settled on a weak note.It continued the bearishness of the previous session and now 68.0000 will be marked as strong support for it. On higher side, 68.5000 is still seen as strong resistance.

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EURINR

USDINR gradually dragged since the start of the session and finally settled on a weak note.It continued the bearishness of the previous session and now 68.0000 will be marked as strong support for it. On higher side, 68.5000 is still seen as strong resistance.

2

GBPINR

GBPINR found selling pressure on highs and closed the second successive session on a weak note.Now, the psychological support so seen on further selling is 85.0000. On any correction on higher side, 85.8000-86.0000 is seen as resistance ramge.

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JPYINR

JPYINR has been hovering around the near support since last three consecutive sessions.If the currency pair surpasses this support then it may dip towards deeper support levels. On higher side, 59.8000-60.0000 may continue as resistance range.

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