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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

* Dollar buckles on US disinflation signs as Fed nears end of hiking cycle

* Dollar continues to weaken after soft CPI; sterling gains despite GDP drop

* Deposit withdrawals at South Korea credit union have stabilised -ministry

CHART OF THE DAY:

OUTLOOK:

EURINR: EURINR yesterday gave another gap up, opening above 91.00 levels and continuing its bullish momentum due to dollar index weakness in the global market. Technically, it now has immediate support around 91.4, and on the upside, it has intraday immediate resistance around 91.85. Above 91.85, it may test 92.00–92.20, near the life-time high, while below 91.4, it may head towards the 91.20–91.00 zone.

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