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USD/INR Holding Above 83 Handle, Docket Empty This Week

INR

USD/INR is a touch softer this morning however the pair is holding above the 83 handle in early trade on Monday.

  • The pair extended gains seen in early August rising ~0.3% last week as broader USD trends dominated flows. We sit a touch off the highest level since 20 Oct 22.
  • Bulls now target the high from 20 October 2022 (83.2975). Bears first target the 20-Day EMA (82.6778).
  • Moody's affirmed India's rating at Baa3, the lowest investment grade score. The outlook remains stable.
  • The docket is empty this week with no data due.

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