The Indian Rupee open marginally lower at 70.5900 but capped losses against the US dollar, driven by gains in domestic equities and weakening of the greenback in overseas markets. Moreover, selling of the American currency by exporters and easing cruded prices bolstered the rupee sentiments. The dollar slide against major Asian peers as market partcipant’s grew increasingly confident that the U.S. Federal Reserve may hit the pause button on monetary tightening this year while the euro and pound traded marginally firmer.
- Aussie climbed to its highest level since December 14 this morning after Australia’s retail sales for November came in above forecast.
- Yuan Spikes to 6-Month Highs after Mnuchin’s US-China Trade Comments.
- Household spending in Japan fell for the third straight month in November, down by 0.6% on a year-on-year basis.
USDINR showed sideways to positive movements throughout the session closed with partial gain.Now, 70.7000 is seen as immediate resistance level for the currency pair breakout above this mark may take it towards next resistance of 71.0000.
EURINR after negative opening showed correction and closed with partial loss.Currency pair continues its bearish movements if sustain below its immediate support of 81.3000 and find next support around 81.0000.
GBPINR after positive movements unable to sustain on higher levels closed with gain.Sustaining above 90.0000 level give strength to particular currency pair and continue bullish movements towards 91.0000 mark.
JPYINR showed sideways to bearish movements throughout the session closed with loss.65.0000 level is seen asstrong support zone for the currency pair breakout below this mark it may drag towards next support level of 64.7000.
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