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News Box

* USDINR closed 7 paise lower at 72.88 yesterday

* Dollar trade flat against most currency pairs as data from inflation and ECB monetory policy is awaited

* US infrastructure spending plans gain momentum as talks with republican senators progress

* China May 2021 CPI at 1.3% vs 1.6% expected vs 0.9% previous. PPI at 9% vs 8.5% expected vs 6.8% previous

* BoC monetory policy meeting today. Expected to hold policy rates and pace of bond purchase

* RBA assistant governor Kent: Expect good prospect for growth with increase in wages and prices

OUTLOOK - USDINR

Rupee opened 3 paise higher at 72.78 from its previous close against the US dollar and it finally closed a net 7 paise lower at 72.88 yesterday. USDINR had gained as far as the intraday high of 72.76 and fell to an intraday low of 72.91. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.18% and closed at 90.13. Brent crude futures rose 0.93% to trade at $72.32/barrel. USDINR near futures are at 73.0250 with the next support seen at 72.9300 and next resistance seen at 73.0925 ahead of market opening today.

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