The rupee on Wednesday opened 2 paise down at 64.35 against dollar on fresh bouts of dollar unwinding by exporters.
Dollar nursed losses on today after skidding to a 10-month low against a currency basket as Republican legislators’ failure to pass a stalled healthcare bill raised fears for the rest of President Reform agenda.
The ECB will hold a policy meeting on Thursday, with participants seen likely to adjust their language as they edge the ECB towards normalizing policy.
• European Monetary Union Construction Output s.a (MoM) declined to -0.7% in May from previous 0.3%.
• South Africa Consumer Price Index (MoM) came in at 0.2% below forecasts (0.3%) in June.
• Australia Westpac Leading Index (MoM): -0.1% (June) vs previous 0%.
USDINR sustained at lower levels and closed the session on a flat note with negative bias.
The currency pair had been slipping towards the important support of 64.3000 and any closing below it can further drag the counter.
EURINR dropped below the previous close and remained at lower levels.
On further weakening, the currency pair may find support around the mark of 74.0000 whereas 74.5500 is still seen as strict resistance.
GBPINR hovered in the same range as of previous session and closed n a flat note.
The counter looks in a mood for correction as holding below 83.8000 can drag the pair at lower levels whereas any closing above 84.0000 can strengthen it.
JPYINR traded in the same range as of previous session and closed on a flat note.
On daily chart, 57.6000 had been acting as stiff resistance sustaining above which can further move the counter northwards while 57.3000 is immediate support.
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