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Published on 13/06/2018 9:14:07 AM | Source: Kedia Commodity Ltd

USDINR trading range for the day is 67.38-67.73 - Kedia

Posted in Currency Report| #Kedia Commodity Ltd #Currency Tips

USDINR

* USDINR trading range for the day is 67.38-67.73.

* Rupee traded in the range on selling by foreign banks along with exporters.

* Global liquidity declines owing to continued reduction of balance sheet by Federal Reserve coupled with expectations that ECB would begin tapering.

* India's foreign exchange reserves fell to $412.23 billion as of June 1, compared with $412.82 billion a week earlier, the Reserve Bank of India said.

EURINR

* EURINR trading range for the day is 79.44-79.94.

* Euro seen some pressure after assurances from Italy that it would not leave the European Union calmed investors’ nerves.

* The ECB should tighten bank access to its cash once inflation in the euro zone reaches its goal and its stimulus measures are gradually withdrawn.

* Germany's industrial production and shipments declined in April amid a rebound in imports, signaling another weak start for the second quarter.

GBPINR

* GBPINR trading range for the day is 90.11-90.82.

* GBP remained under pressure after British factory output suffered its biggest monthly drop since 2012, underlining that economic momentum remains fragile.

* Output in the UK manufacturing sector fell 1.4% in April from the prior month, according to figures published by the Office for National Statistics.

* Industrial production fell 0.8% in April, compared to a gain of 0.1% in the previous month.

JPYINR

* JPYINR trading range for the day is 61.13-61.52.

* JPY dropped as the dollar edged up elevated by hopes that the closely-watched U.S.-North Korea summit can pave the way towards a reduction in tensions.

* Japan's tertiary activity index increased in April after falling in the previous month, data from the Ministry of Economy, Trade and Industry showed.

* The Bank of Japan concludes a two-day meeting on Friday at which it is widely expected to keep its loose monetary policy intact.

 

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