The Indian Rupee plunged 5 paise to open at 68.1375 and swinging in a range between 68.2175 and 68.08675 throughout the day against the US dollar on account of increasing demand of dollar from banks and importers. Moreover, early losses in domestic bourses also weighed on the Rupee. On a flip side, against the currency basket, dollar rise day high as market sentiment regained a day after mounting trade tensions sparked a selloff in risky assets.
• United Kingdom BBA Mortgage Approvals above expectations (38.2K) in May: Actual (39.244K).
• Sweden Producer Price Index (MoM) climbed from previous 0.6% to 1.4% in May.
• Denmark Retail Sales (YoY) increased to 3.9% in May from previous 0.7%.
USDINR open with positive bias sustain on higher levels closed with gain.
Now, 68.3000 is act as immediate resistance above which it may continue positive movements and find next resistance around 68.5000
EURINR showed positive movements after some correction closed with partial gain.
Psychological level of 80.0000 is seen as immediate resistance sustaining above it may continue positive rally in the currecy pair and find next resistance around 80.2000.
GBPINR after correction found support of psychological level closed with flat note.
More positive movements are expected in the currency pair if sustain above 90.5000 marks and find next resistance near 91.0000. On lower levels 90.0000 is support for it.
JPYINR found support on lower levels closed with some gain.
Unable to sustain on lower levels suggesting positive strength in the currency pair and may show bulish rally above 62.4000.
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