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USDINR

* USDINR trading range for the day is 75.02-75.5.

* USDINR gained as investors move to safe haven assets amid fresh concerns about the Omicron COVID variant.

* India Nov services PMI moderates marginally to 58.1

* The fresh outbreak in COVID cases raised expectations that the RBI would remain dovish in the next policy meeting

EURINR

EURINR trading range for the day is 84.8-85.46.

Euro dropped as investors fear that a new and possibly vaccine-resistant coronavirus variant could hurt the ongoing economic recovery.

Euro zone business activity accelerated last month but the bounce may be temporary as demand growth weakened

Eurostat said the euro zone jobless rate continued to decline, falling to 7.3% of the workforce in October, as expected.

GBPINR

GBPINR trading range for the day is 99.68-100.26.

GBP dropped as investors rushed to safety amid panic over a new COVID-19 variant and as doubts arose on whether BOE will raise interest rates at its December meeting

According to the BoE survey, due to Covid-19, investment is 8% lower and employment is 2% lower than it would have been otherwise.

According to the BoE survey, sales in the first and second quarters of 2022 are estimated to be 4% and 2% lower, respectively, than in the absence of COVID.

JPYINR

JPYINR trading range for the day is 66.24-66.64.

JPY eased as markets weighed economic risks and uncertainties from the Omicron variant against a hawkish tilt by the US Federal Reserve.

BoJ's Suzuki: We will not hesitate to apply easing if necessary.

BoJ's Suzuki: The Japanese economy may undershoot forecasts even further if the impact of supply constraints is worse and lasts longer than expected.

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