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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE

* Iranian currency falls to record low amid isolation and sanctions

* Dollar ends up vs yen, as super easy BOJ policy seems here for a while

* Dollar remains unloved; sterling drops on weak retail sales

CHART OF THE DAY:

OUTLOOK: The EURINR is consolidating in a narrow range, and further moves will be seen after the range breakout. Where 89.9-87.80 will be the first support area while 87.7 are the next critical support levels. On the upside, 88.35–88.40 levels have a minor hurdle; above this, we can expect 82.60–82.80 levels.

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