The Rupee recovered 7 paise to 66.82 against the US dollar in early trade today on selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. Besides, weakness in the dollar against other currencies overseas supported the rupee.
The UK consumer prices rose 0.6% y/y in July from 0.5% seen a month before, matching market forecasts of 0.5%, the Office for National Statistics (ONS) revealed on Tuesday. While the core inflation gauge eased a bit to 1.3% in July versus 1.4% last, although came in line with expectations.
- Fed’s Williams pushes dollar down to 1-month low vs yen.
- Global easy money hopes lift Asia FX; won near 15-mth high.
- UK CPI ticks higher in July, beats estimates.
- UK Consumer Price Index (MoM) in line with expectations (-0.1%) in July.German Consumer prices in July 2016: +0.4% on July 2015.
USDINR resisted near the highs as seen on daily charts and dragged down during the session.
It is not able to sustain higher above 67.0000 mark and 66.8500 is constantly acting as good support for the counter. Any closing below it can further drag it down.
EURINR showed one side intraday movement and closed on a strong note.
It strongly surpassed 100 day EMA on daily charts and now is expected to face 75.8000 as next resistance while 75.0000 may again act as important support.
GBPINR opened on lower note and gained momentum on higher side thereafter; finally closing on a flat note.
It didn’t closed below the support of 86.6500 rather closed above it indicating that correction can bring the counter towards the resistance of 87.6000.
JPYINR jumped higher surpassing the important resistance marks and closed higher.
On daily charts, the rally may continue if it is able to sustain above 67.0000 while 66.5500 may act as immediate support for the currency pair.
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