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* USDINR closed 9 paise lower at 73.06 yesterday

* Fed to announce tapering in August or September on rising inflation concern

* US federal reserve balance sheet at over $8 trillion for the first time

* BoC's Lane: Rise in underlying inflation means economy has less slack than bank predicts

* US fiscal deficit at $132 billion in May 2021 vs $399 billion in May 2020

OUTLOOK - USDINR

Rupee opened 2 paise lower at 72.95 from its previous close against the US dollar and it finally closed a net 9 paise lower at 73.06 yesterday. USDINR had gained as far as the intraday high of 72.94 and fell to an intraday low of 73.12. The dollar index which compares the strength of the dollar against 6 major currencies fell 0.08% and closed at 90.06. Brent crude futures rose 0.38% to trade at $72.47/barrel. USDINR near futures are at 73.1975 with the next support seen at 73.0850 and next resistance seen at 73.2825 ahead of market opening today.

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