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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE

* USD/JPY pain to return as surging inflation tees up BoJ for further hawkish foray

* Despite a 20 big figure fall yen remains undervalued (MUFG sees USD/JPY towards 120)

* NZD/USD bulls are tiring ahead of US CPI as the main event

CHART OF THE DAY

OUTLOOK:

EURINR: EURINR facing weakness from its horizontal resistance of 88.50 , however 87.50 is immediate support level and on the upside 88.50 act as a resistance, where move above 88.50 it can lead some upside momentum towards 88.80 while if it slips below 87.50 it may head towards 87.0-87.20 zone.

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