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  • Writer's picturefxmethods

USDINR OPENED WEAKER @ 69.67/68


  • USDINR opened 14 pips weak @ 69.67/68 again yesterday 69.53/54.

  • Early morning weakness directly correlated with Brent oil Price momentum.

  • Philippine peso, USDKRW Korean won firmer; USDSGD dips.

  • Rupee getting some support from from $ edged back from a nine-day low early.

INTRADAY RANGE - 69.28 ( 69.41 - 69.77 ) 70.12

  • On Wednesday , Indian rupee clocked its third straight session gains, rising 17 pips to close at a fresh two-month high of 69.53/54 against the US dollar on sustained foreign fund flows.

  • Interbank Foreign Exchange, the domestic unit opened at 69.67/68 and advanced to a high of 69.4275 during the day.

  • This was the best closing level for the Indian unit since January 1 this year, as it ended that day at 69.43.

  • The greenback had taken a knock as the pound rallied more than 2 per cent after British lawmakers voted against a potentially disorderly "no-deal" departure from the European Union late.

  • The pound has already made a lot of ground, and since its gains are mostly generated by expectations rather than fundamentals, its current rally looks to have run its course.

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