The rupee fell by 10 paise to 67.18 against the US dollar in early trade on Monday following weak cues from other Asian currency markets. Most Asian currencies were trading lower in morning as cautiousness prevailed ahead of the two-day US Federal Reserve policy review starting Tuesday.
Germany’s most prominent indicator, decreased in July to 108.3, from 108.7 in June, and still stands at its second highest level this year. At the same time, the current assessment component increased to the highest level since August last year.
- Dollar buoyant before central bank meetings.
- Upbeat U.S. data hurts Asia FX; Fed, BOJ eyed.
- Germany IFO – Expectations above expectations (101.2) in July: Actual (102.2).
- Sri Lankan rupee edges up on bank dollar sales; stocks slip.
USDINR opened higher and continued the positive momentum for the entire session.
It closed above 100 day EMA which is a sign of strength for the counter and surpassing 67.3700 can lead it to higher levels.
EURINR breached the immediate support but didn’t close below it.
Now, if the pair sustains above 74.0000 mark then it may move northwards towards 74.3500 otherwise 73.7000 is seen as immediate support.
GBPINR moved in sideways terrain and was able to close on a positive note.
Bears will again become active below the support of 87.8000 while on higher side 89.3000 will act as immediate resistance on higher side.
JPYINR showed sideways trend on intraday charts and was able to close in green against the previous close.
It needs a proper breakout on either side to decide a particular trend where support is at 62.7000 while resistance at 63.8500.
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