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USDINR

USDINR trading range for the day is 74.94-75.63.

USDINR gained as investors move to safe haven US dollar amid concerns of new, possibly COVID variants forcing renewed lockdowns.

India’s economic recovery likely strengthened in the previous quarter, boosted by services activity that recovered

Investors fled riskier assets after the detection of the significant new mutation, which in-turn strengthened safe-haven assets like the dollar.

EURINR

EURINR trading range for the day is 84.53-86.35.

Euro gained as investors awaited clues on whether the Omicron variant of coronavirus would hamper economic recoveries and monetary tightening plans

The euro zone is better equipped to face the economic impact of a new wave of COVID-19 infections or the Omicron variant, ECB’s Lagarde said.

German inflation to jump beyond 5% in November, states data suggest

GBPINR

GBPINR trading range for the day is 99.76-101.24.

GBP remained under pressure as investors rushed to safety amid panic over a new COVID-19 variant

Further doubts arose on whether the Bank of England will raise interest rates at its December meeting.

Governor Andrew Bailey said central banks took risks when they sought to provide guidance on what is likely to happen with rates

JPYINR

JPYINR trading range for the day is 65.83-67.35.

JPY rose as investors bid up safe haven assets after Moderna expects existing vaccines to be less effective against the Omicron variant.

Japan finmin says he is closely watching currency moves, impact on economy

Japan finance minister says he discussed coordination on global issues with Yellen

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