The Rupee climbed 14 paise to 67 against the US dollar in Thursday’s trade after the US Fed in its two-day policy meet decided to maintain status quo on the policy rate for now. The Fed said that near-term risks to the economic outlook have diminished and it continues to monitor inflation indicators and global economic and financial developments.
Most emerging Asian currencies rose on Thursday as the dollar lost ground after the US Federal Reserve did not provide strong signals on a near-term interest rate hike, while caution grew ahead of Japan’s central bank policy decision.
- Dollar falls against yen as BOJ easing expectations pared.
- Emerging Asian currencies rise as dollar loses ground after Fed meet; next risk BOJ.
- German Unemployment Declines as Companies Shrug Off Brexit Woes.
USDINR fell for the third consecutive session and also tested the key support so seen on daily chart.
It may further drag down if the pair maintains below 67.3000 whereas any closing above 67.6000 can determine strength and it may move higher.
EURINR opened higher and headed further during the intraday and closed in green.
If it continue the positive momentum then 75.0000 is seen as immediate resistance while 74.5000-74.1500 is the crucial support range.
GBPINR although remained higher as per previous close for the entire session but overall the trend remained sideways.
Major support mark for the counter is still kept near 88.3000 while 89.7000 is the crucial resistance for the pair if it is able to breach 89.0000 mark.
JPYINR moved in a range for the whole session and was able to close in green.
It tends to reach towards 65.0000 mark from current levels whereas any correction can find support near to 63.6500 for the currency pair.
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