On Friday , Domestic Currency (Rupee) seems start with weaker note as greenback firm on Geopolitical tensions on the Korean peninsula, in the Himalayas and between China and its trading partners have also weighed, and the balance of risks kept morning moves modest.
On Thursday, USDINR stuck in tight range between 76.21 - 76.0850 levels before finished at 76.14/15 levels.
In the days leading up to the most violent border clash between India and China in decades, China brought in pieces of machinery, cut a trail into a Himalayan mountainside and may have even dammed a river, satellite pictures suggest.
India plans to impose higher trade barriers and raise import duties on around 300 products from China and elsewhere, two government officials said, as part of an effort to protect domestic businesses.
INTRADAY RAGE - (76.05 - 76.38) 76.52
GLOBAL HIGHLIGHTS
President Donald Trump on Thursday renewed his threat to cut ties with China, a day after his top diplomats held talks with Beijing and his trade representative said he did not consider decoupling the U.S. and Chinese economies a viable option.
The dollar traded near a two-week high against a basket of currencies and has gained about 0.4% for the week, its largest weekly rise since mid-May. That stalled the rally in the risk-sensitive Australian and New Zealand dollars.
The Aussie was steady on Friday at $0.6855 and testing its 20-day moving average. The kiwi slipped to $0.6407, its lowest since Monday. The safe-haven Japanese yen firmed a fraction to 106.94 per dollar.
The British pound sat a fraction above a two-week low at $1.2403, under pressure as investors fretted that the Bank of England may not be planning enough bond buying to support confidence through 2021.
The euro was steady at $1.1208, a little above a two-week low of $1.1186 touched on Thursday.
Reuters reported Canberra had determined in March last year that China was responsible for a hacking attack on Australia's parliament. Australia never publicly identified that source of the attack and China denied it was responsible.
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