The Indian rupee opened on weak note at 65.5550 against the US dollar, owing to increased demand for the greenback from importers and banks. Strengthening of the greenback vis-a-vis other currencies overseas and weak opening in domestic equities added pressure to the local unit. However, foreign fund inflows and easing crude prices restricted the fall. On the flip side, the U.S. dollar ticked higher against a currency basket, as market sentiment remained subdued amid persistent uncertainties over trade and the outlook for global economic growth.
- Yuan Falls as U.S. ‘Not Ready for a Deal’; Dollar Ticks Higher.
- Aussie cheers iron-ore rally, risk-on; a busy session ahead.
- China industrial profits falling hurt by the technology war.
- Italy’s Deputy PM Salvini: EU could slap EUR 3 billion fine on Italy for excessive debt.
- Iran sees no prospect for negotiations with the US.
USDINR opened with positive bias sustain on higher levels closed with gain.
Currency pair continue positive movements if able to break its immediate resistance of 69.8000 and find next resistance around 70.0000.
EURINR found resistance on higher levels showed correction closed with partial gain.
If able to sustain above 78.0000 mark in upcoming session currency pair shows bullish movements towards 78.5000 levels.
GBPINR showed sideways movements throughout the session closed with flat note.
Breakout below immediate support of 88.2000 currency pair give negative movements and find next support near 87.8000 mark.
JPYINR after positive opening showed bullish movements closed with positive bias.
Sustaining above resistance level of 63.8000 currency pair may continue its bullish rally and find resistance around 64.2000.
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