Extending its gains for the fifth straight day, the rupee on Tuesday opened 4 paise up at 64.32 against dollar on selling of the American currency by banks and exporters amid firm equity markets.
The dollar slumped to seven month lows against a currency basket on Tuesday and the safe haven yen strengthened broadly as investors grew more cautious amid fears over looming geopolitical risks.
The dollar came under pressure ahead of former FBI Director James Comey’s testimony to a Senate committee on Thursday.
• South Africa Gross Domestic Product (YoY) in line with forecasts (1%) in 1Q.
• European Monetary Union Retail Sales (MoM) came in at 0.1%, below expectations (0.2%) in April.
• Colombia Consumer Price Index (MoM) below expectations (0.35%) in May: Actual (0.23%).
USDINR found support around support levels and managed to inch higher in the later half to close on a strong note.
If a short bounce back is seen in the counter, then it may move towards the resistance of 64.8000-65.0000 whereas 64.4000 may continue to act as key support.
EURINR has been hovering in the same range as in last few sessions and closed on a flat to positive note.
The currency pair is facing stiff resistance around the mark of 73.0000 whereas 72.5000 had been acting as strong support for it.
GBPINR carried the positive momentum so observed in the last session and closed on a strong note.
The pair had been stuck into a range as seen on daily chart where 83.6000 is seen as key resistance while 83.0000 had been marked as key support level.
JPYINR showed strong move since the beginning of the session and closed on higher note.
The counter surpassed the important mark of 59.0000 and closing above indicates that the positive move may continue towards the next resistance range of 59.3000-59.6000.
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