On Wednesday , Rupee commence trading with firm note between 73.50 - 73.60 levels, maintain winning momentum as regular FII inflows to equity market as well as greenback near 2.5 year lows at 91.15 levels on hope of fresh stimulus for fighting with COVID19 fresh wave. Now Rupee previous resistance at 73.70 - 73.80 levels become support area after yesterday sharp correction against greenback.
On last Trading session ( Tuesday) , Indian rupee jumped sharply against the greenback, Rupee rose as much as 52 pips to over one-month high of 73.44/45 against the greenback as compared to intraday lowest levels at 73.9650/9750 in opening trade.
Ministers and representatives of thousands of protesting farmers failed to break a deadlock over a set of new farm laws at a meeting on Tuesday, but both sides were set to meet again on Thursday, a farmers' leader and the government said.
The Reserve Bank of India monetary policy committee is expected to leave interest rates unchanged when it meets on Friday, after data showing the economy contracting less than expected and persistently high inflation.
INTRADAY RANGE - 72.92 ( 73.31 - 73.84 ) 74.18
GLOBAL HIGHLIGHTS
Dollar stayed near a 2 1/2-year low as investors cautiously eyed developments in talks about further fiscal stimulus from the United States, while risk currencies held onto gains on improving risk appetite.
U.S. Treasury Secretary Steve Mnuchin and House of Representatives Speaker Nancy Pelosi held stimulus talks for the first time since the election, while a bipartisan group of senators and House members proposed $908 billion worth of coronavirus relief measures.
U.S. Senate leader Mitch McConnell said on Tuesday that Congress should include a fresh wave of coronavirus stimulus in a must-pass $1.4 trillion spending bill aimed at heading off a government shutdown in the midst of a pandemic.
The euro held ground against the dollar after its strong performance overnight as it hit the highest level since May 2018. It last fetched $1.2067. Analysts said the European Central Bank could act against a rapid rise of the currency.
Sterling also remained near a three-month peak against the greenback after Times Radio said Brexit trade deal talks have entered the "tunnel" stage of negotiations.
Australian GDP data was released, while the New Zealand dollar changed hands at $0.7071, holding steady near the highest level since April 2018 hit overnight.
Oil was down on early Asia on Wednesday, continuing a downward trend after a surprise build in U.S. crude oil inventories and uncertainty as to whether the Organization of the Petroleum Exporting Countries and allies (OPEC+) would extend its production cuts into 2021.
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