USDINR
The USDINR likely to commence Monday session within range of 82.20 – 82.30 levels despite dollar fell against a basket of its major peers as investors largely shrugged off new data showing inflation slowing as they continue to sort through multiple central bank decisions this week to understand the outlook for monetary policy.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - BUY
INTRADAY RANGE – 82.47 (82.31 – 82.15) 81.99
THE FOREX MARKET
The BOJ is offering to buy 10-year Japanese government bonds (JGB) at 1.0% and is keeping its short-term interest rate at minus 0.1% and the 10-year government bond yield around 0%.
Earlier this week, the Fed and the European Central Bank announced interest-rate hikes, as expected. The ECB raised the possibility of a pause in September as inflation pressures show tentative signs of easing with recession worries mounting.
Mexico's peso on Friday hit its highest level against the dollar since early December 2015, as the greenback lost steam after a slowdown in U.S. inflation bolstered the case for the Federal Reserve to end its interest rate hikes.
Bolivia's government is determined to curb dependence on the U.S. dollar for foreign trade, instead turning to the Chinese yuan, officials said, as Latin American support for alternative currencies grows.
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