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Rupee Ticks Lower In Early Trade, Docket Empty This Week

INR

The Rupee has ticked lower in early dealing this morning as post-FOMC gains are trimmed. An uptick in US Tsy Yields is weighing as FOMC officials pushed back on 2024 rate cut expectations.

  • USD/INR sits at 83.12/14, ~0.1% above yesterday's closing levels.
  • Technically we remain in an up trend, bulls target a break of the 20-Day EMA (83.2730) which opens cycle highs (83.50). On the downside bears look to break the 83 handle to target the 200-Day EMA (82.60).
  • A reminder that the local docket is empty this week.

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