US dollar climb to 5 day high as CPI rises by most in 13 years - Geojit Financial
News Box
* USDINR closed 13 paise lower at 74.61 yesterday
* Fitch keep US dollar rating at AAA with a negative outlook, expect Fed to raise policy rate in 2023
* Japan's factory index hits its highest since November 2018 in July: Reuters Tankan
* RBNZ leaves official cash rate unchanged at 0.25% as expected
* Fed president Daly expects dollar to be in good position to taper at end of the year
* US dollar climb to 5 day high as CPI rises by most in 13 years
OUTLOOK - USDINR
Rupee opened flat at 74.48 from its previous close against the US dollar and it finally closed a net 13 paisa lower at 74.61 yesterday. USDINR had gained as far as the intraday high of 74.67 and fell to an intraday low of 74.37. The dollar index which compares the strength of the dollar against 6 major currencies closed 0.60% higher at 92.78. Brent crude futures rose 1.59% to trade at $76.83/barrel. USDINR near futures are at 74.6100 with the next support seen at 74.5292 and next resistance seen at 74.6967 ahead of market opening today.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory