The Rupee opened nearly 19 paise down at 68.15 against the US dollar on Monday on account of buying of American currency by banks and importers.
The dollar crept ahead in Asia on Monday after signs of wage pressure in Dec US jobs proved enough to lift Treasury yields but bulls remained wary of a sudden setback following last week wave of profit-taking. There were enough hints of inflationary pressure in Friday’s mixed US payrolls report to support the case for more interest rate hikes.
• European Monetary Union Sentix Investor Confidence came in at 18.2, above expectations (12.5) in January.
• Singapore Foreign Reserves (MoM) dipped from previous 247.8B to 246.58B in December.
• Romania Trade Balance rose from previous €-0.971B to €-0.866B in November.
USDINR gained momentum since the start of the session and closed on higher note. It is near to the resistance of 68.5100 surpassing which may continue the up move. On lower side 68.2000-68.0000 is seen as support range.
EURINR opened gap down and sustained on lower side for the entire session.If it holds the level of 72.0000 then 72.3000 is seen as next resistance whereas 71.8000 can act as immediate support for the currency pair.
GBPINR showed sharp downfall during the session and closed on a weak note.It found strong support around 83.0000 mark below which it may fell to test deeper supports whereas 84.0000 will now act as stiff resistance.
JPYINR opened gap down and gradually jumped higher during the session.The currency pair had once again faced resistance around 59.0000 as seen in aprevious session and downfall shows that weak trend may strengthen below 58.2000.
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