USDINR
The USDINR trading near historical higher(83.29/83.30) levels, On Thursday pair likely to commence between 83.10 – 83.20 levels as dollar index rose after the release of the Federal Reserve's minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting.
USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - UPSIDE SELL
INTRADAY RANGE – 83.29 (83.14 – 82.99) 82.84
THE YUAN
The USDCNY touched its lowest level since November in both the onshore and offshore markets as fears mounted about the extent of China's slowdown, falling as low as 7.3390.
THE YEN
The yen has hit the key 145 per dollar level for four sessions, which triggered heavy dollar selling by Japanese authorities in September and October last year. USDJPY trading at 146.38 a level not seen since November.
THE STERLING
In Britain, core inflation, which strips out volatile energy and food prices, remained at 6.9% in July, flat versus the June reading, and higher than expectations in a Reuters poll for a reading of 6.8%.
The pound was up after data showed British core inflation stayed strong in July, hitting a high of $1.2768 and was last up around 0.15% at $1.2721.
THE NZDUSD
The New Zealand dollar, which had fallen to a nine-month low of $0.5930 in early Asian trade, rebounded after the Reserve Bank of New Zealand policy meeting, but last fell 0.27% versus the greenback at $0.59442
The central bank held its cash rate steady as expected on Wednesday, but slightly pushed out when it expects to start cutting borrowing costs to 2025.
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