The Rupee declined 25 paise to 66.01 against the US dollar in early trade on Monday amid concerns over Fed policy meet beginning Tuesday and referendum on Brexit next week. Weak domestic output data released on Friday and cautiousness over the CPI data scheduled later in the day, too weighed heavy on the domestic currency compared with the previous month.
The British pound fell to an eight-week low against the dollar as investors grew more nervous of a referendum that could pull Britain out of the European Union.
- Dollar slips over 1 percent against yen as Brexit fears stoke risk aversion.
- China – May Industrial Production 6.0% y/y (expected 6.0%).
- Sterling falls to 8-week low on Brexit anxiety, yen surges.
- Sri Lankan rupee up; on exporter, foreign investor dollar sales.
USDINR opened higher on back of Rupee depreciation over poor IIP data and finally closed strong.
It sustained above 100 day EMA which is a strengthening signal for the pair while 67.0000 may act as strong support from current levels.
EURINR opened on lower note but gradually moved northward during the session and closed in green.
Now, sustaining above 76.0000 can make the counter to lead towards 76.4000 while 75.0500 is seen as crucial support for the counter.
GBPINR witnessed a sharp fall over Brexit fears and closed down surpassing deeper supports.
It needs to hold above 96.0000 to gain strength while 94.7000 will now act as important support for the pair.
JPYINR broke the important resistance of 63.1000 on daily charts and closed above strongly.
It can further lead towards 64.0000 mark if sustains above whereas 63.0000 is seen as key support.
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