Free Trial

Rupee Firms In Early Dealing

INR

Broader USD/Asia flows are dominating in early trade as the Rupee firms in early dealing.

  • USD/INR is ~0.2% lower, last printing at 82.40/42. The pair remains well within the monthly range.
  • Bulls target a break of the high from May 23 (82.8475) which opens the 83 handle, a level at which the RBI intervened in February. Bear's immediate focus is on the 20-Day EMA (82.28).
  • In a blow to India's chip making plans Foxconn has withdrawn from its semiconductor JV worth $19.5bn with Indian firm Vedanta. More here.
  • The domestic data docket is empty today. Tomorrow June CPI and May Industrial Production cross.

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.