USDINR Traded Lower - Ways2Capital

USDINR traded lower witnessing gap down opening after holiday. Prices ended at 65.12 for the day on positive equity indices and strong FII inflows despite rally in dollar index. 

The dollar index, which measures the greenback against a basket of six major currencies, pulled away from 4-1/2- month lows to 99.751 after solid data backed expectations for more U.S. interest rate hikes this year. We expect prices to trade lower in short term. USDINR has immediate resistance at 65.40/65.60. Important support lies at 65/64.80.

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JPYINR - Ways2Capital

JPYINR trading range for the day is 58.33-59.21. JPY dropped as the dollar gained after solid data backed expectations for more U.S. interest rate hikes this year. Bank of Japan board members viewed that the bank should not rush to action and it should pursue monetary easing under the current framework with patience. 

Retail sales in Japan were up a seasonally adjusted 0.2 percent on month in February, the Ministry of Economy, Trade and Industry said.

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GBPINR - Ways2Capital

GBPINR trading range for the day is 80.55-81.81. GBP remained under pressure knocked by Britain triggering its exit from the European Union. 

UK Prime Minister Theresa May signed the letter that notifies the EU of her government invoking the Article 50 of the Lisbon Treaty, which will trigger the formal 'Brexit' process.

The Brexit and high household indebtedness are some of the main risks to UK's financial stability, the Financial Policy Committee of the Bank of England said.

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EURINR Trading Range For The Day Is 69.92-71.3 - Ways2Capital

EURINR trading range for the day is 69.92-71.3. Euro dropped as the dollar rose as investors shifted focus from Trump’s healthcare bill setback to upbeat economic data. 

The greenback bounces back from 4-month lows, buoyed by upbeat consumer confidence data while talk of further rate hikes from Fed officials lifted sentiment. Germany's import prices increased at the fastest pace in nearly six years in February, figures from Destatis showed.

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USDINR - Ways2Capital

USDINR trading range for the day is 64.93-65.45. Rupee hit its strongest level in nearly 1-1/2 years as strong foreign investments into the country continued. 

Foreign investors have bought a net $6.91 billion in debt and equities so far this month on hopes of an improving economy. India's current account deficit widened to $7.9 billion, in the October-December quarter from the same period a year earlier.

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Indian Rupee Opens Higher At 64.87 Per Dollar

The Indian rupee opened higher in the early trade on Thursday. Rupee has gained 3 paise at 64.87 per dollar versus 64.90 Wednesday. Mohan Shenoi of Kotak Mahindra Bank said, "Macro data emanating from US continues to be robust keeping the dollar strength intact. The rupee is resilient on the back of FII flows into bonds and equity.

We expect the USD-INR to trade in a range of 64.80-65.10/dollar for the day," he added. The dollar hovered near a one-week high against a basket of currencies, buoyed by a weaker euro which sagged as prospects of the European Central Bank stepping away from monetary easing faded.

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EURINR Trading Range For The Day Is 70.9-71.27

EURINR trading range for the day is 70.9-71.27. Euro remained in the range as the currency has been boosted by expectations for monetary tightening by the European Central Bank later this year. 

Eurozone money supply growth eased for the second straight month in February, though marginally, figures from the European Central Bank showed. Eurozone private sector activity expanded at the fastest pace in almost six years in March, amid robust new orders.

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