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News Box

* USDINR closed 5 paise higher at 74.72 yesterday

* US tresury yields rebound from 5 month low as covid cases cause concern again

* UK liable to pay 47.5bn Euros to EU as post brexit settlement

* China inflation rate unexpectedly drop to 1.1% in June 2021 vs 1.3% expected and previous

* Economic data puts Canadian dollar and the pound in focus today.

OUTLOOK - USDINR

Rupee opened flat at 74.77 from its previous close against the US dollar and it finally closed a net 5 paisa higher at 74.72 yesterday. USDINR had gained as far as the intraday high of 74.60 and fell to an intraday low of 75. The dollar index which compares the strength of the dollar against 6 major currencies closed 0.37% lower at 92.36. Brent crude futures rose 1.33% to trade at $74.82/barrel. USDINR near futures are at 74.9475 with the next support seen at 74.8308 and next resistance seen at 75.0308 ahead of market opening today.

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