View on Currency Update By Heena Naik, Angel Broking Ltd
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Below are Views On Currency Update by Heena Naik, Research Analyst - Currency, Angel Broking Ltd
*Currency Update*
Today, both GBPUSD and GBPINR have surged by 0.41 percent and 0.37 percent respectively. Reason behind the uptrend could be attributed to:
- Recovering risk sentiment in global markets boosted the demand for currencies correlated with economic growth.
- Robust release of UK’s Public Sector Net Borrowing data that resulted in £22.02 billion in June, better than anticipated.
- The UK PM has spoken to European commission head urging the latter to look at the proposals on Northern Ireland seriously. He stated that Britain is looking for significant changes to the existing mechanisms.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
