Rupee was trading lower by 12 paise at 67.18 against the dollar in early trade today on increased month-end demand for the American currency from importers and banks. The dollar was firm against some global currencies after the US Federal Reserve Chair Janet Yellen indicated that the interest rates could rise in coming months.
Asian currencies fell on Monday after Federal Reserve Chair Janet Yellen’s upbeat view on the economy and comments by another top Fed official helped rekindle bets that the Fed would raise interest rates soon.
- Dollar hits 3-week high vs yen as rate rise signals get louder.
- Asian currencies slip as Fed comments bolster US rate hike bets.
- Ireland Retail Sales (YoY): 6.3% (July) vs 5.3%.
- Greece Gross Domestic Product n.s.a (YoY) dipped from previous -0.7% to -0.9% in 2Q.
USDINR opened higher and sustained at higher levels and closed strong.
On daily charts, it closed near to the 100 day EMA of 67.5400 and maintaining above it can lead it towards 67.6500 whereas 67.3000 may act as immediate support.
EURINR after a gap down opening dragged further and closed in red territory.
The currency pair closed below the 100 day EMA of 75.5100 and sustaining below it can drag it towards 75.3000. On higher sides 75.7000 is seen as important resistance.
GBPINR is continuously falling since last few sessions after facing resistance at higher levels.
If it continues to extend the bears then it may fall towards 88.0000 mark whereas 88.8000-89.0000 may now act as major resistance range.
JPYINR showed sharp downfall with the start of the session and continue to move southwards throughout the session.
If it continue to drop down then immediate support is seen around 65.7900 and closing below it can further drag it lower.
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