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Free AccessWeaker Start, Rupee Weakens On Monday
The Rupee was pressured on Monday as rising US Tsy Yields and concerns over rising Oil prices weighed. USD/INR rose ~0.3% and finished dealing above the 83 handle albeit well within recent ranges.
- USD/INR has opened dealing ~0.1% above closing levels as the Rupee weakens in early trade. The pair last prints at 82.20/22
- Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bears immediate focus is the 83 handle and the 20-Day EMA (82.9852).
- Data wise the docket is empty until Friday when the August Fiscal Deficit and Eight Infrastructure Industries survey crosses.
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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.