The rupee opened 7 paise down at 68.23 against dollar on Monday on account of buying of American currency by banks and importers.
The pound fell as much as 1.5 per cent on the day in early deals in London on Monday, hit by media reports that Prime Minister Theresa May will signal Britain is on course for a “hard” Brexit from the European Union. Sterling reached as low as $1.1983 in trading, its weakest-October’s “flash crash” aside in near 32 years. It had recovered somewhat to $1.2033 by 0806 GMT, still down 1.2 per cent from open.
• European Monetary Union Trade Balance n.s.a. above expectations (€22B) in November: Actual (€25.9B).
• Turkey Budget Balance declined to -27B in December from previous 10B.
• India Trade Deficit Government fell from previous $13.01B to $10.37B in December.
USDINR opened with positive bias unable to sustain on higher levels closed with partial loss.
Immediate support for the currency is seen around psychological level of 68.0000 below which more correction is expected towards 67.8000.
EURINR continue its bearish rally after negative opening and closed on lower note.
Now, the vital support for the currency is seen near 71.9000. On higher levels 72.6000 is act as strong resistance for further bullish movements.
GBPINR opened gap down unable to sustain on higher levels closed around its strong support zone.
If it continue its negative movement than 81.9000 is act as next support level whereas correction is expected if able to sustain above 82.5000.
JPYINR opened with positive bias after correction closed with partial gain.
Form bearish candle on daily charts if sustain below psychological level of 60.0000 than expected to give correction up to 59.2000.
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