The rupee on Wednesday saw a marginal 8 paise gain at 69.0000 against the US dollar in line with a steady trend in domestic equities in the run-up to the Union Budget due on Friday. On the flip side, U.S. dollar slipped on Thursday in Asia. Overnight, U.S. President Donald Trump accused China and Europe of playing a “big currency manipulation game.”Government bonds are in the middle of a global rally, which has pushed U.S. Treasury yields to the lowest in more than 2-1/2 years and sent European yields to record lows.
- Asian stocks track US equities higher.
- Australia: Weak economic data.
- Commodity-Linked Currencies Capitalize On USD Weakness.
- Indian firms supplying US tech to Huawei may face US sanctions.
- US: Unemployment rate seen higher at 3.7% on rise in continuing claims.
USDINR after breakout from its support zone showed negative movements closed with loss.
If able to continue bearish movements in upcoming session then it may finds support around 68.5000 mark below which it is more bearish.
EURINR opened with negative bias showed bearish movements closed with negative note.
Currency pair shows more negative movements if sustain below its immediate support of 77.7000 and drag towards 77.2000 mark.
GBPINR showed bearish movements throughout the session closed around its support.
Now, 86.5000 is act as strong support zone for the currency pair breakout below this mark it may shows negative movements towards 86.0000.
JPYINR unable to sustain on higher levels after bearish movements closed with negative bias.
Sustaining below 64.0000 mark currency pair shows more negative movements and finds support around 63.6000. On higher levels 64.2000 is act as resistance.
(Click to submit your details) Just one step to get best trading tips and Recommendation.