Forex Market News

JPYINR – Ways2Capital

JPYINR trading range for the day is 62.15-62.75.

JPY traded in range as dollar seen supported after Federal Reserve Vice Chair Richard Clarida backed further rate hikes.

Bank of Japan Governor Haruhiko Kuroda: I believe we will be able to gradually achieve 2% inflation.

BoJ Gov Kuroda: Japan’s Public Debt Very Large – Will Maintain Powerful Monetary Easing To Achieve Price Target.

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GBPINR – Ways2Capital

GBPINR trading range for the day is 90.21-91.08.

GBP slumped as doubts grew about whether British Prime Minister Theresa May can get a Brexit agreement through a divided parliament.

PM May began a tour of UK to drum up support for her Brexit divorce deal with EU but her deputy said parliament might reject it if asked to vote on it now.

UK Brexit Sec Barclay: Tough task to get Brexit deal past parliament

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EURINR – Ways2Capital

EURINR trading range for the day is 79.9-80.6.

Euro remained under pressure as dollar held near two-week highs as concerns about Sino-U.S. trade tensions propped up safe haven currencies.

ECB’s Praet says all policy instruments can be adjusted as needed

ECB’s Praet says recent data points to loss of growth momentum.

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USDINR – Ways2Capital

USDINR trading range for the day is 70.62-71.21.

Rupee gained on likely inflows into local stocks and debt after the Reserve Bank of India announced additional OMO purchase for November.

Further, falling crude oil prices and overseas institutional investors buying local equities helped boost investor sentiment.

The greenback rose after a Fed member reaffirmed the need for further rate increases amid higher safe haven bids on fear of simmering Sino-US trade tensions.

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Rupee Extends Gains, Below 70/$ For The First Time In 3 Months

  

The Indian rupee extended its morning gains as it is trading at USD 69.96 per dollar mark. It gained past 70 mark for the first time since August 27.

Rupee opened higher by 51 paise at 70.11 per dollar versus Wednesday’s closing 70.62.It has appreciated by 6 percent from its all-time low of 74.48 per dollar.

Rupee strengthened against the US dollar and extended gains in the latter half of the session ahead of the important preliminary GDP number that was released from the US. In the last couple of sessions rally in domestic equities is also supporting the rupee with FIIs also turning net buyers after remaining sellers in September and October.

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JPYINR – Ways2Capital

               

JPYINR trading range for the day is 61.84-63.01.

JPY remained under pressure with the Fed on a monetary tightening path while the Bank of Japan remains committed to its ultra-loose monetary policy.

BOJ Kuroda: Japan’s financial system maintaining stability on the whole

BOJ Kuroda: Must be mindful of pressure on economy from the financial system.

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GBPINR – Ways2Capital

               

GBPINR trading range for the day is 89.71-91.81.

GBP remained under pressure as investors moved to the sidelines where European Union and British policymakers are expected to endorse a Brexit deal.

European Union leaders sealed a Brexit pact on Sunday calling it the ‘best possible’ deal that Britain could have got.

The UK budget deficit in October far exceeded expectations and was the biggest for the month in three years.

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