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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

* U.S. dollar slumps after weak data; markets betting Fed near end of hiking cycl

* Dollar tests two-month low after weak ISM, strong German exports data; RBA pause

* Dollar’s slide on rate-cut bets nearing limit as economic stress coming up short

CHART OF THE DAY:

OUTLOOK:

GBPINR: GBPINR is traded near to its 10 SMA, but 102-102.10 is an immediate and critical resistance zone; above this, we can expect a short-covering rally towards the 102.20-102.40 zone. On the downside, 101.50 is an immediate support zone, while 101.20 is the next support zone.

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