The Rupee rose against the US dollar in early trade as dollar following weak US jobs and consumer price inflation data released overnight. Data released overnight showed claims for initial jobless benefits in the week ending June 11 increased by 13,000 to 277,000 compared with 264,000 a week ago.
China’s yuan inched up against the dollar on Friday morning but is set to post its biggest weekly loss in five weeks, as market participants look to a more gradual pace of decline in the currency in months ahead.
- Sterling, euro recover as Brexit opinion seen shifting.
- China’s yuan set to post biggest weekly loss since mid-May.
- Sri Lankan rupee 1-wk forwards trade steady amid cbank moral suasion.
- Russia Industrial Output rose from previous 0.5% to 0.7% in May.
USDINR slipped down gradually during the session after opening on a weak note.
Any closing below the immediate support of 100 day EMA i.e. 67.0500 can be a weak signal for the counter while 67.5000 is seen as major resistance.
EURINR although sustained higher above the previous day close but remained on weaker side during the session.
It is moving in a specific range according to which 75.4000-75.0500 is seen as support range while 76.1000 is still acting as strong resistance.
GBPINR opened higher and sustained at higher levels as it broke the particular range in which it was trading since last four sessions on back of Brexit opinion shifting.
Support for the pair is seen around 95.7000 while 96.5000 as strict resistance.
JPYINR was able to sustain at higher levels but traded below the previous close.
If it manages to trade above 64.6000 then it can further move northwards while weakness can be seen if it holds below 64.1000.
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