Free Trial

RBI Likely Intervenes On Tuesday, Data Docket Light For Reminder Of Week

INR

USD/INR is little changed in early dealing, last printing at 81.87/88.

  • The pair firmed off session lows yesterday as the RBI likely intervened, link here, pressuring the rupee and facilitating a recovery from session lows.
  • In early trading yesterday the Rupee had printed its firmest level in two months. USD/INR had fallen ~1.4% from its high on 10 July.
  • Bears now target the 200-Day EMA (81.61), bulls first look to recover the 82 handle.
  • A reminder that the domestic data calendar is empty this week.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.