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News Box

* USDINR closed 18 paise lower at 73.08 yesterday

* Chinese caixin services PMI falls to 55.1 in May vs 56.3 in April

* ECB to keep policy loose this year despite high inflation risk: Reuters

* Japan may see increased inflation in post Covid era: BoJ board member Adachi

* Japan services PMI revised higher to 46.5 vs 45.7 preliminary vs 49.5 previous

* Australia trade surplus widens to AUD 8.03bn vs 7.9bn expected vs 5.79bn previous

OUTLOOK - USDINR

Rupee opened 18 paise lower at 73.08 from its previous close against the US dollar and it finally closed at 73.08 itself yesterday. USDINR had gained as far as the intraday high of 73.04 and fell to an intraday low of 73.31. The dollar index which compares the strength of the dollar against 6 major currencies fell 0.02% and closed at 89.90. Brent crude futures rose 0.96% to trade at $71.52/barrel. USDINR near futures are at 73.3925 with the next support seen at 73.1692 and next resistance seen at 73.5892 ahead of market opening today.

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