The Rupee strengthened further by 14 paise to end at 66.77 against the US currency on the back of sustained dollar selling by exporters amid weak overseas tone. Robust FII inflows into the equities and debt predominantly supported the domestic currency to sustain its momentum for the second consecutive day. The domestic currency was further supported by unwinding of long-dollar positions by speculators.
Payrolls jumped in July for a second month and wages climbed, pointing to renewed vigor in the U.S. labor market that will sustain consumer spending into the second half of the year.
- Sterling recovers ground after drop on aggressive BoE stimulus.
- Yen jumps as BOJ pauses their ETF buying spree.
- UK Annual house price growth unchanged at 8.4%.
- United States Unemployment Rate above forecasts (4.8%) in July: Actual (4.9%).
USDINR was unable to sustain on higher sides as resisted around 100 day EMA and closed around the support.
Now, if it surpasses the level of 66.9500 then selling pressure can drag it down whereas 67.2500 is still acting as important resistance.
EURINR after the sharp downfall in previous session sustained on lower sides and closed on a flat note.
Sell on highs can be witnessed till it sustains below 75.0000 mark and 74.5000 is seen as important support for the currency pair.
GBPINR opened gap down and extended the bears on daily charts.
It took strong support of 88.0000 mark and 87.8000 is seen as strong support from current levels whereas 88.5000 is seen as immediate resistance.
JPYINR is able to hold strongly at higher levels as bulls carry the counter upwards from support levels.
Now, 66.6000 is seen as strict resistance breaching which can lead it towards new highs while any closing below 66.0000 can be a weak sign for the counter.
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