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* USDINR closed 2 paise lower at 74.77 yesterday

* Japan set to declare emergency lockdown in Tokyo till August 22 as infections spike

* PBOC may cut its reserve ratio requirement in September: China Press

* Policymakers agree to raise inflation goal to 2% and allow overshoot: ECB

* Infection spike due to delta variant could slow US recovery: Fed's Bostic

* Economic data from Germany and the US and ECB monetary policy minutes in focus today

OUTLOOK - USDINR

Rupee opened flat at 74.76 from its previous close against the US dollar and it finally closed a net 1 paisa higher at 74.77 yesterday. USDINR had gained as far as the intraday high of 74.55 and fell to an intraday low of 74.86. The dollar index which compares the strength of the dollar against 6 major currencies closed 0.17% higher at 92.70. Brent crude futures fell 2.11% to trade at $73.84/barrel. USDINR near futures are at 74.8200 with the next support seen at 74.7292 and next resistance seen at 74.9367 ahead of market opening today.

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