The Rupee fell 2 paise to 67.22 against the US dollar in early trade on Thursday amid a rally in the greenback globally on rising hope of rate hike by the US Fed amid recent set of healthy inflation and jobs market data.
The office for National Statistics (ONS) published the UK’s retail trade report for the month of June, revealing that the consumer spending dipped further in the Brexit-month. The UK’s retail volumes fell 0.9% in June m/m, while the annualized retail spending rose 4.3%. Markets had estimated a 0.3% dip on a monthly basis.
- Yen hits 6-week low as Japan stimulus hopes support risk sentiment.
- Ringgit slips to 3-week low on 1MDB scandal; Asia FX dips.
- Sterling bounces as BoE survey shows limited Brexit vote fallout.
- UK retail sales dip further in Brexit-month, miss expectations.
USDINR has been trading in sideways manner since last few sessions and unable to specify the trend.
On daily charts, it has been hovering around 100 day EMA and on higher side, 67.4000 is still acting as important resistance while 67.0000 is seen as strong support.
EURINR opened higher but was unable to hold able the resistance levels and fell down to again close on negative note.
The trend seems to be bearish till it sustains below 74.1500 and sell offs may increase below 74.0000.
GBPINR fell from highs during the intraday session and finally settled on weak note.
Key support is still seen around 87.8500 below which bears may further drag the pair lower whereas 89.3000 is seen as important resistance.
JPYINR opened gap down and then a surge was seen during the session which made the pair to settle on positive note.
It took resistance just near to 63.8500 which is also a key point on daily charts as holding above which can lead it higher while 62.7000 is good support.
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