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News Box

* USDINR closed 19 paise lower at 72.62 yesterday

* Chinese Yuan rose 13% against dollar since last May, PBOC may step in to stop appreciation

* GBP at 3 year high amid hopes of vaccine spurring growth hopes

* Australia post its highest current accout surplus of AUD 18.3bn in the first quarter of 2021

* Japan manufacturing PMI revised to 53 vs 52.5 estimate vs 53.6 previous

OUTLOOK - USDINR

Rupee opened 4 paise higher at 72.39 from its previous close against the US dollar and it finally closed a net 19 paise lower at 72.62 yesterday. USDINR had gained as far as the intraday high of 72.34 and fell to an intraday low of 72.65. The dollar index which compares the strength of the dollar against 6 major currencies fell 0.25% and closed at 89.83. Brent crude futures rose 0.64% to trade at $69.69/barrel. USDINR near futures are at 72.8950 with the next support seen at 72.7200 and next resistance seen at 73.0200 ahead of market opening today.

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