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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

* US dollar recovers from inflation-related losses; yen slumps

* Dollar slips lower ahead of inflation release; euro gains 

* US dollar inches lower ahead of inflation report

CHART OF THE DAY:

OUTLOOK

JPYINR: JPYINR, given yesterday's close below the support level of 57.80 and yesterday's close around 57.71, continued facing selling the last 3 trading sessions. Now, on the upside, it has an immediate resistance around 58.00, and on the downside, 57.60 is the first immediate support level, while below 57.60 it may head towards the 57.50–57.40 zone.

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