USDINR
On Wednesday, USDINR is likely to commence between 82.70-82.80 levels as dollar ticked higher against major currencies in early Asian session, on track for its first monthly gain since September on views that interest rates will stay elevated for some time as inflation remains stubbornly high, while recession fears kept investors on edge.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - UPSIDE SELL
INTRADAY RANGE – 82.88 (82.75 – 82.62) 82.49
THE DOLLAR DANCE
Recent upbeat data, such as a blockbuster employment report for January, helped the greenback rally in February on expectations that the Federal Reserve will have to raise interest rates higher and longer than the market had earlier anticipated to fight inflation.
THE JAPAN
Japan's policy of keeping yields pinned down means the yen is sensitive to moves elsewhere. Incoming Bank of Japan (BOJ) Governor Kazuo Ueda said this week it was premature to comment on how the central bank may shift policy.
THE EURO
The euro slid against the dollar to $1.0575. Earlier, it got some support from higher-than-expected French inflation data, which sent short-dated euro zone yields to their highest in at least a decade.
THE AUD
Australia's economy grew at the weakest pace in a year last quarter while the country's monthly consumer prices rose less than expected in January.
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