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Marginally Firmer Start For Rupee, RBI Say Inflation Fight Far From Over

INR

The Rupee is marginally firmer in early dealing as broader USD/Asia trends dominate early flows.

  • USD/INR is a touch below the 82 handle, the pair has see-sawed around 82 in recent dealing with little follow through on moves.
  • Bulls look to break the 20-Day EMA (82.2059), on the downside bears look to break the 200-Day EMA (81.5919).
  • In RBI's latest monthly state of the economy report the bank noted that after an uptick in CPI in June the fight against inflation is far from over and monetary policy must remain tight to return inflation to target. More here.
  • A reminder that the local data docket is empty this week.

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