USDINR
On Monday, The Domestic Unit (Rupee) very much likely to commence week with in positive note between 82.70 - 82.80 levels as dollar subdued on U.S. debt default can be avoided pointed to the Federal Reserve retaining a tight monetary policy for longer.
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USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - UPSIDE SELL
INTRADAY RANGE – 82.97 (82.81 – 82.65) 82.49
THE DOLLAR
The dollar index is on course to record gains of just less than 1% previous week as news of constructive talks to end the current debt ceiling impasse in Washington raised optimism that a deal can be reached, thus avoiding a damaging debt default.
THE EURO
EUR/USD rose bouncing off the previous session’s seven-week low after German producer prices for April came in stronger than expected, adding to expectations of more interest rate hikes by the European Central Bank.
THE GBP
Bank of England policymaker Jonathan Haskel is due to speak later in the session, and could provide sterling with a lift if he confirms that last week's 12th rate rise was not the last as the labor market remains tight and inflation far too high.
THE YEN
USD/JPY fell after data showed that Japanese consumer inflation rose back towards a 40-year peak in April, putting pressure on the Bank of Japan to adjust its ultra-loose monetary policy.
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