The rupee fell sharply to 64.11 at day’s low against the US dollar on sustained dollar demand from importers and banks amid a widening trade deficit. The rupee traded in the range of 63.60 and 64.11 against the US dollar today. The dollar index, which gauges the US currency against a basket of six major rivals, wallowed at more than three-year lows. It was last down 0.5 percent at 90.541, after dropping as low as 90.279 on Monday, its deepest nadir since December 2014.
- UK inflation rose to 0.4% from 0.3% on a monthly basis as widely expected.
- Political Uncertainty Grips FX on Both Sides of Atlantic.
- Turkey 3mth quarterly jobless average declined to 10.3% in October from previous 10.6%.
USDINR pair has given good resistance break out and holds its higher level, closed the session with good gain. For upcoming session if it manages to hold above 64.30 then more upside movement can be seen where as 63.8000 is crucial support level.
EURINR pair opened with gap up and continued its upward journey, closed the day with positive note. Now 78.6000 is immediate resistance level above this it can give more upside movement. On downward side it has crucial support level 78.0000.
GBPINR pair followed its northward movement and settled the day with bullish note. It has important resistance level of 88.5000 above this more upside moment can be seen and 87.7000 is crucial support level.
JPYINR pair has given good upside moment and settled the day with positive biasness. This pair has 58.0000 as a psychological resistance level above this it can move towards next resistance level, 57.5000 is major support level.
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