The rupee opened 12 paise down at 64.62 against dollar on Wednesday on account of selling of American currency by banks and exporters.
The yen hit five-month highs against the dollar, euro and sterling on Wednesday, as simmering geopolitical tensions checked risk appetite and put the safe-haven Japanese currency in favour. Trump’s administration also accused Russia of trying to shield Syria’s government from blame for a deadly gas attack, as Secretary of State Rex Tillerson brought a Western message to Moscow condemning its support for President Bashar al-Assad
• United United Kingdom Average Earnings excluding Bonus (3Mo/Yr) above expectations (2.1%) in February: Actual (2.2%).
• Austria Trade Balance up to €-158.5M in January from previous €-639.2M.
• Spain Consumer Price Index (MoM) in line with expectations (0%) in March.
USDINR traded in the same range as of previous one and closed on a flat to positive note.
The currency pair is still facing resistance near 65.0000 mark and is unable to surpass it. On lower side, if it crosses 64.5000 then weak trend may continue.
EURINR inched higher for the second consecutive session and closed in green.
On moving forward, it may find resistance near 69.0000 whereas 68.5000-68.3000 may act as support range for the currency pair.
GBPINR opened gap up and sustained at higher levels and closed on a strong note.
It closed at the important mark of 81.0000 which indicates that further northward movement may find 81.3000-81.5000 as resistance range. Now, 80.6000 is seen as good support.
JPYINR opened gap up and sustained higher for the entire session to close in green territory.
Strength may continue if it holds above the level of 59.2000 and may reach towards next resistances whereas 58.7500 is seen as key support from current levels.
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