Indian Rupee traded weak since start of the session on sustained foreign fund outflows amid appreciation of the American currency overseas.
Another important headline from the global currencies is of Philippine peso which set to post its third straight weekly fall slumped around 0.8% against greenback, hitting a two-month low on Friday, amid growing worries about the new government’s economic policies ahead of a presidential election next week. The dollar rose against a basket of currencies on Friday, as remarks on possible rate hikes in 2016 from a top Federal Reserve official pared some bets on a weaker greenback.
- Dollar edges higher as Fed’s Dudley offsets weak U.S. jobs data.
- Eurozone retail PMI drops to 14-month low in April.
- Philippine peso heads for 3rd weekly fall on election jitters.
- Australian construction edges ahead in April.
- Russian rouble slips back on lower oil prices.
- Dudley says two Fed rate hikes reasonable expectation in ’16.
USDINR was again devoid of movements and the situation froe specific trend is still unclear according to charts.
On daily charts, 100 day EMA of 67.0000 is still acting as stiff resistance while support is found by the counter around 66.7000-66.5000.
EURINR surpassed the previous day’s lows and did not sustain there for long rather showed some recovery and closed in green.
Strength can be said till it sustains above 76.4000 while 76.0000 is marked as immediate support.
GBPINR consolidated for first half of the session and then inched higher to close the session in green.
If it is able to hold above 97.0000 in the coming session then 100 day EMA of 97.1500 may act as resistance while 96.50000 is seen as good support for the counter.
JPYINR managed at higher levels after gap up opening as per previous close.
The counter has showed pull back from support of 62.1250 on daily charts and if breaches the immediate resistance of 62.6500 then up move can be seen while 62.1000 is still seen as good support.
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