Market Outlook
The Indian Rupee made subdued opening at 68.8300 against dollar on account of increased demand for the American currency from importers amid sustained foreign capital outflows.
The dollar continued to hold on against major currencies, it hit a more than 14-month high against the yuan, as sentiment turned fragile after US officials confirmed a proposal to raise tariffs on $200 billion worth of Chinese imports to 25 per cent, from 10 per cent.

Fundamental News
• Italy Retail Sales s.a. (MoM) below expectations 0.1% in June: Actual -0.2%.
• European Monetary Union Retail Sales (MoM) below forecasts 0.4% in June: Actual 0.3%.
• United Kingdom Markit Services PMI below expectations 54.7 in July: Actual 53.5.

USDINR showed sideways movements and closed with partial loss.
69.0000 is still act as strong resistance for the currency pair sustaining above which may take it towards next resistance level of 69.3000.
EURINR open with negative bias showed sideways movements closed with loss.
Closing below psychological level of 80.0000, suggest more correction in it and may find support around 79.6000. On higher side 80.1000 is resistance for it.
GBPINR showed sideways to negative movements closed with negative bias.
89.6000 is act as immediate support for the currency pair opening below it may drag it towards next support zone of 89.3000. JPYINR showed showed sideways movements closed with loss.
Psychological level of 62.0000 is act as strong resistance for it sustaining above which may give some positive movements. On downward side 61.3000 is support for it.

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