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CURRENCY OUTLOOK

DAILY CURRENCY MARKET UPDATES

NEWS IN HEADLINE:

*US Fed clarifies process for banks to transact in stablecoins

* Pound struggles against dollar, with more pain ahead as BoE hike bets overcooked

* US dollar rises broadly as risk tolerance drops after Moody's downgrade, Chinese data

CHART OF THE DAY:

OUTLOOK:

USDINR: USDINR is continuing its bullish momentum, and there are no signals of weakness where 83.10–83.15 is an immediate target level. On the downside, 82.80 intraday and immediate support levels While below 82.80 leads to further weakness towards the 82.70–82.60 zone.

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