The rupee is expected to remain range bound and average at 64.3 against the US dollar in the current financial year and is likely to be lower at 65.4 in 2018-19, says a UBS report.
The dollar held firm near a seven-week high versus the yen on Monday, supported by recent rises in US Treasury yields, while sterling stood tall, buoyed by growing expectations the Bank of England could raise interest rates soon.
- European Monetary Union Consumer Price Index (YoY) meets forecasts (1.5%) in August.
- Italy Global Trade Balance above expectations (€3.89B) in July: Actual (€6.56B).
- China House Price Index declined to 8.3% in August from previous 9.7%.
USDINR opened around its support showed correction and closed with partial gain.Now, immediate support for the currency pair is seen around 64.2500 if able to sustain above it than more positive movements were expected upto 64.5000.
EURINR opened with negative bias showed pull back from its support level and closed around its resistance.On higher level 77.0000 is still act as major resistance bullish movement is continues only above this level. Whereas 76.6000 is act as support for it.
GBPINR showed range bound movement after bullish rally closed around its intraday support.For upcoming session 86.7000 is crucial support if able to sustain above it than continue its positive movements towards resistance of 87.3000.
JPYINR showed sideways movements due to bank holiday closed with partial gain.As trades around its strong resistance of 58.0000, if sustain above it than some correction is expected. On lower levels 57.5500 is act as support for it.
(Click to submit your details) Just one step to get best trading tips and Recommendation.