The rupee witnessed high volatility against the US dollar in opening trade on Thursday, after the US central bank left key interest rates unchanged. The US Federal Open Market Committee kept the key rate in the 2.25-2.5% range.The rupee opened strong at 69.6150, but lost ground in early trade against the US dollar. On the flip side, the U.S. dollar slid to its lowest level in three months against a currency basket on Thursday after the Federal Reserve indicated that it is prepared to cut interest rates to combat low inflation and slowing growth.
- Asian currencies and Gold pounce on Fed’s easing bias.
- Dollar fall to 3-Month Lows on Dovish Sounding Fed.
- GBPUSD Eyeing BoE Rate Decision, Brexit amid Prime Minister Race.
- Mexico becomes first country to ratify USMCA trade deal via Senate vote.
- NZ GDP, March quarter 2019: Slow but steady.
USDINR after negative opening showed bearish movements closed with negative bias.
Currency pair continues its negative movements towards support zone of 69.0000 if able to sustain below resistance level of 69.7000.
EURINR opened with positive bias showed bullish movements closed with gain.
78.5000 is seen as immediate support for the currency pair sustaining above this mark it may continue bullish movements towards 79.0000.
GBPINR showed correction in last trading hour closed with positive note.
Now, 88.6000 is seen as strong resistance level for the currency pair above this mark it may continue positive rally towards 88.8000.
JPYINR after positive opening unable to sustain on higher levels closed around its support.
If able to sustain on higher levels then immediate resistance for the currency pair is seen near 64.8000 above which it is more bullish.
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