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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

* Japan finance minister: "No discussion" of exchange rates at G7, Kyodo reports

* Dollar gains after steep losses, but downtrend stays intact

*Rupee-UAE dirham trade mechanism may launch during Modi visit Saturday -sources

CHART OF THE DAY:

OUTLOOK:

EURINR: EURINR yesterday gave another gap up, opening above 92.00 levels and continuing its bullish momentum. Technically, it now has immediate support around 92.00, and on the upside, it has intraday immediate resistance around 92.80. Above 92.80, it may test 93.00–93.15, near the life-time high, while below 92.00, it may head towards the 91.80-91.60 zone.

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