US$INR is likely to reverse its Friday`s gains and move back towards 82.50 as 82.80 acted as major hurdle for the pair - ICICI Direct
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/07/3e656a12ec9fecb074d1d11c48f7b079.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Rupee Outlook
• Rupee is expected to appreciate today amid weakness in dollar as the softness in June US Job numbers has raised the doubts on further tightening of the interest rates trajectory. However the strong wage growth numbers could limit the downside in the dollar. Further, more than 90% probability of 25 bps hike in the next meeting could also provide some support to the dollar.
• US$INR is likely to reverse its Friday’s gains and move back towards 82.50 as 82.80 acted as major hurdle for the pair. Only a move below 82.50 would weaken further towards 82.30
Euro and Pound Outlook
• Euro is likely to trade with bullish bias on the back of a weak dollar. Further, hawkish comments from ECB President Lagarde to bring inflation under control could provide necessary support to the Euro. EURUSD is likely to rise towards 1.10 level as long as it stays above 1.0930. EURINR may find the support near 90.30 level and rise towards 90.90 level.
• Pound is likely to hold its gains on expectation that the BOE will raise the rates amid high inflation numbers. Further higher yields on the two-year UK Government bonds would also support the pair. GBPUSD is expected to remain in the range of 1.2780-1.850. GBPINR is likely to consolidate in between 105.60-106.30 level.
To Read Complete Report & Disclaimer Click Here
Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
SEBI Registration number INZ000183631
Above views are of the author and not of the website kindly read disclaimer
![](https://portfolio.investmentguruindia.com/uploads/news/Rupee_040124.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/apple57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/simcard57.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Chemical.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/GST 1090.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/INDIA-ECONOMY-PMI.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/State Bank of India Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Power 2510.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Infrastructure28.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/NKSingh57.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/5f8722dc5cfdcb05d0a567e0df6a967e.jpg)
EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
![Euro remained under pressure on Thursday amid weaker set of economic numbers from Euro zone - ICICI Direct](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c49d5573f54fd1fe07309fbce5369a52.jpg)
![USDINR is trading near all time low and we might see some RBI intervention but as long as 82.80 - Tradebulls Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/0732326f21b0692a41afc4432d1a7a56.jpg)
![GBPINR broke down below its 100 DMA yesterday and closed with a big bearish candle around 103.82 - Swastika Investmart](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/842b8e5254d53919452a82c7f06190bd.jpg)