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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

* Dollar jumps as Powell flags higher terminal rate

* Dollar slips lower ahead of keenly awaited Powell testimony

* Dollar dips, Powell testimony and jobs data in focus

CHART OF THE DAY:

OUTLOOK:

GBPINR: GBPINR is respecting its 100 DMA beautifully, but 98.95–99.00 is an immediate and critical resistance zone; above this, we can expect a short-covering rally towards the 99.30–99.50 zone. On the downside, 98.40 is an immediate support zone, while 98.20 is the next support zone.

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