The Rupee weakened by over 11 paisa and opened at 68.2975 and hovered in the range of 68.2975 and 67.8475 against Dollar in an early trade on fresh selling of the US currency by exporters and banks.Meanwhile, the dollar’s strength against other currencies overseas, as a surge in the benchmark 10-year Treasury yield above 3 per cent reignited a rally that had lost steam last week, capped the rupee’s gains.The dollar was also boosted by the surge in U.S. Treasury yields , as traders continued to price in a faster pace of rate hikes.
• Italy Industrial Sales s.a. (MoM): 0.8% (March) vs 0.5%
• Turkey Industrial Production (YoY) fell from previous 9.9% to 7.6% in March
• Japan Industrial Production (YoY) registered at 2.4% above expectations (0.5%) in March
USDINR USDINR showed correction and closed below its support level with negative note.
More correction is seen in currency pair if able to sustain below its psychological support of 68.0000 and may find next support around 67.5000.
EURINR open with negative bias showed negative movements throughout the session.
Immediate support for the currency is seen around 80.0000 sustaining below which shows more negative movements in it. On higher levels 80.6000 is resistance mark.
GBPINRGBPINR showed negative movements closed with negative note around its support.
If continues bearish movements than 91.3000 is act as support level for it. On upward level psychological level of 92.0000 is act as resistance mark.
JPYINR showed sideways to negative movements closed with loss.
Form consolidation around its intraday support level opening below which shows more correction in it towards 61.2000 level.
(Click to submit your details) Just one step to get best trading tips and Recommendation.