The Indian rupee depreciated by 12 paise to open at 69.3950 and throughout the day hovered in the range of 69.6375 and 69.2025 against the US dollar on increased demand for the greenback from importers and banks. However, sustained foreign fund inflows and higher opening in domestic equities supported the rupee and restricted the fall. On the flip side, against major Asian peers, the U.S. dollar rose following more dovish comments from central banks.
- Yen firms up as T-yields tumble again; German CPI, US GDP on tap
- US 10-year treasury yield hits 15-month low
- Against dollar, Kiwi hits 20-day low on dismal New Zealand business confidence data
- The SARB to keep its policy rate on hold at 6.75% today in South Africa.
USDINR opened with partial gain showed bullish movements closed with positive bias. Now, psychological level of 70.0000 is act as strong resistance for the currency pair sustaining above this mark it may comes in bullish zone.
EURINR after correction found support on lower levels closed with flat note. 78.6000 is act as immediate resistance level for the currency pair breakout above this mark it may shows more bullish movements.
GBPINR after negative opening found support on lower levels and showed correction closed with loss. Currency pair shows bullish movements if able to sustain above its immediate resistance of 91.7000 and find next resistance near 92.0000.
JPYINR showed bullish movements from its support and closed with positive note. Sustaining above support of 63.0000 currency pair continues its positive movements and on higher levels 63.7000 is act as resistance for it.
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