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Published on 20/02/2020 10:19:15 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 20th February 2020 - USD, EUR, GBP, JPY by Kedia Commodity

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

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USDINR

* USDINR trading range for the day is 71.33-71.7.

* Rupee dropped on fears over the coronavirus still dominating market sentiment

* Investor sentiment remained fragile after Apple Inc became the latest company to warn of trouble

* Rupee might also be supported by hopes that India would reach a trade agreement with the US

 

EURINR

* EURINR trading range for the day is 77.34-77.72.

* EURO is extending the downside mid-week after the minutes of the latest Federal Reserve's meeting

* Fed showed the FOMC members were confident in the US economic growth rate.

* The majority of members voted decision to keep interest rates unchanged at between 1.75% and 1.50%.

 

GBPINR

* GBPINR trading range for the day is 92.58-93.69.

* The pound fell as investors remained uncertain about the fate of the future relations

* The British government announced that it will start a new plan and system for immigration

* The rupee might also be supported by hopes that India would reach a trade agreement with the US

 

JPYINR

* JPYINR trading range for the day is 65.02-65.41.

* Yen nursed heavy losses after suffering its steepest drop in six months, as a fall in coronavirus cases seen

* Chinese stimulus to offset the economic impact of the epidemic.

* The rupee might also be supported by hopes that India would reach a trade agreement with the US

 

 

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