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News Box

* USDINR closed 9 paise lower at 72.97 yesterday

* China and US commerce heads agree to manage differences and push ahead with trade

* US inflation expectation fall to 7 week low ahead of CPI release

* Japan PM Suga to come out with big economic stimulus package in summer before elections

* US president Joe Biden accused UK PM Boris Johnson of 'inflaming' Ireland peace over brexit

* ECB press conference puts Euro in spotlight, CPI puts focus on USD

OUTLOOK - USDINR

Rupee opened 2 paise lower at 72.90 from its previous close against the US dollar and it finally closed a net 9 paise lower at 72.97 yesterday. USDINR had gained as far as the intraday high of 72.88 and fell to an intraday low of 73.02. The dollar index which compares the strength of the dollar against 6 major currencies traded flat and closed at 90.14. Brent crude futures fell 0.18% to trade at $72.20/barrel. USDINR near futures are at 73.0975 with the next support seen at 73.0200 and next resistance seen at 73.1750 ahead of market opening today.

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