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Published on 26/03/2020 9:01:21 AM | Source: Kedia Advisory

Technical Currency Outlook 26 th March 2020 - USD, EUR, GBP, JPY by Kedia Advisory

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

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USDINR

* USDINR trading range for the day is 75.8-76.68.

Rupee gained on short covering after prices weakened amid a global meltdown in risk assets, with rising number of coronavirus cases locally adding to anxiety.

India’s foreign-exchange reserves plunged the most in about eight years as the central bank stepped in to defend the rupee.

Reserve Bank of India: RBI to conduct variable rate Term Repos of ₹1,00,000 crores.

 

EURINR

* EURINR trading range for the day is 81.5-83.79.

* Euro gained as the dollar slipped on signs tight funding conditions are easing slightly after Fed pulled out all stops to supply much needed greenback liquidity.

* ECB's Costa calls on for Eurozone to consider very long term Coronabonds to be issued by ESM and repayable from EU budget

* Italian Official: Euro Area not debating targeted Italy support, Italy doesn't need targeted support measures.

 

GBPINR

* GBPINR trading range for the day is 87.9-90.76.

* GBP rebounded following reports that U.K. Prime Minister Boris Johnson imposed stricter lockdown measures to combat the COVID-19 pandemic.

* On the Brexit side, PM Johnson's spokesman noted the UK is aiming for a deal with the EU by year-end 2020.

* UK households' perception about financial well being deteriorated in March to its lowest level since mid-2019.

 

JPYINR

* JPYINR trading range for the day is 68.26-69.76.

* JPY gained as dollar dropped after the Fed announced a set of new emergency funding programs to ease liquidity concerns in key markets.

* BoJ's Kuroda: BoJ's profits will change depending on market moves. Current paper ETF loss doesn't directly mean BoJ loss.

* Japanese Finance Minister Taro Aso says officials will respond quickly if fair trading is not taking place, adding that they will aim to strengthen financial market surveillance.

 

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