USDINR
On Tuesday, USDINR likely to commence between 81.90 – 82.00 levels as dollar subdued on on news of U.S. manufacturing slumping further in June to levels last seen when the economy was reeling from the initial wave of the COVID-19 pandemic.
Last trading session Domestic Unit (Rupee) show comprehensive move till 81.7425 against greenback , But after some intervention USDINR settled at 81.96/97.
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USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - HOLD
INTRADAY RANGE – 82.37 (82.10 – 81.83) 81.56
THE FX MARKET
Dollar was little changed against a basket of major trading currencies and gained against a yen that's under intervention watch after the Japanese finance minister warned last week of excessive moves in the currency market.
The yen fell to near eight-month lows against the dollar as intervention came into sight after Finance Minister Shunichi Suzuki warned on Friday against investors selling the yen too far as it weakened past the threshold of 145 to the dollar.
The euro rebounded after earlier weakening on data showing a slowdown in factory activity in China and the euro zone renewed concerns about economic growth. Euro zone manufacturing activity contracted faster than initially thought in June as persistent policy tightening by the European Central Bank squeezed finances.
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