The Rupee rose 2 paise to 67.19 against the US dollar on Tuesday after the RBI governor Raghuram Rajan said that the prevailing level of rupee is pretty reasonable and any step taken to devalue it further may trigger inflationary pressures.
The UK consumer prices remained stagnant at 0.2% m/m in June from a month before, matching market forecasts of 0.2%, the Office for National Statistics (ONS) revealed on Tuesday. The UK inflation report shows that the Brexit shock has been ignored by markets, easing pressure on the BOE to act sooner i.e. as early as August.
- Dollar slips vs yen on profit-taking; kiwi tumbles.
- UK CPI steadies at 0.2% m/m in June, core CPI ticks higher.
- Australian, New Zealand dollars slide on rate cut bets.
- Bearish yuan and oil weigh on Asia FX; PBOC seen supporting renminbi.
USDINR traded on a flat note with negative bias and finally settled in red.
In the coming session, if it holds below 67.1000 then it may further see selling pressure while 67.3000 is still acting as good resistance.
EURINR slipped on lower levels despite of higher opening and closed around the key support.
On daily charts, 74.1500 is acting as crucial support breaching which sell offs can be seen while 75.0000 will now act as major resistance.
GBPINR traded on lower notes dragging gradually during the entire session.
Immediate support is seen near 88.4000 surpassing which it may again test the deeper support levels while 90.0000-90.3000 may act as resistance range.
JPYINR was unable to show strength after two days pull back as seen on daily charts.
Near term support level is seen around 63.0000 below which selling pressure is expected whereas it needs to sustain above 63.7000 to again gain strendth.
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