The Indian Rupee weaken by 16 paise to open at 67.9900 and throughout the day swingng around in range of 68.1925 and 67.9550 against the US dollar on account of increasing demand of dollar by importers and banks. Moreover; domestic bourses also put pressure on the rupee. On flip side, dollar plunged two-week-low against the yen on global trade concerns capped the losses, dented investor’s apettite and drove down U.S yields as U.S. Treasury Department reported that it would block firms with at least 25% Chinese ownership from buying U.S. companies.
• Japan Leading Economic Index came in at 106.2, above forecasts (105.1) in April.
• Indonesia Trade Balance climbed from previous $-1.62B to $-1.52B in May.
• Germany IFO – Business Climate above forecasts (101.7) in June: Actual (101.8).
USDINR open with positive bias sustain on higher levels closed with gain.
Now, 68.2000 is act as immediate resistance above which it may continue positive movements and find next resistance around 68.5000.
EURINR showed positive movements after some correction closed with gain.
79.8000 is seen as immediate resistance sustaining above this level may give positive strength to the currecy pair and find next resistance around 80.0000.
GBPINR showed positive movements sustain above its psychological support.
More positive movements are expected in the currency pair above 90.5000 marks and find next resistance near 90.8000. On lower levels 90.1000 is support for it.
JPYINR able to sustain on higher levels closed with positive bias.
Form strong consolidation around its resistance level, shows strength in the currency pair above it and may find resistance around 62.6000.
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