USDINR traded steady near 64.50 witnessing range bound movement on mix market factors. Prices ended positive at 64.57 in yesterday’s trade supported by stronger dollar index.
The greenback has edged higher since the Fed raised interest rates last Wednesday and announced it would begin cutting its holdings of bonds and other securities later this year, while indicating that a recent softening in inflation was seen as transitory.
Prices are expected to trade sideways to down on global cues with Support 64.40/64.30, resistance 64.70/64.90.
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