USD/INR : We expect Indian Rupee (INR) to slip to a record low of 80 by Q3. “The rising number of COVID-19 cases in India could lead to another extension in the lockdown beyond 3 May, which will pose downside risks to our GDP growth forecast of 1.6% for FY21.”
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Safe-Haven Currencies in Demand Amid U.S., Iran Tension
The yen and other safe-haven currencies were in demand on Monday, along with assets such as gold, as investors fretted that the killing of Iran’s most prominent military commander by the United States could trigger a broader Middle East conflict.
Rupee Suffers Big Fall Against US Dollar Today
The Indian rupee (INR) today fell sharply against the US dollar (USD) today to go past 72-a-dollar mark again. Weak GDP data and a broad strengthening of the US dollar weighed on the Indian rupee. Further, a sharp fall in the domestic stock market indices Sensex and Nifty also put pressure on the rupee.
USD/INR Trades in Range, Further Trend Sideways – Gold Silver Reports
USD/INR Trades in Range
Intraday bias remains slightly bullish for the moment.
It made intraday high at 69.79 and low at 69.66 marks.
South Korean WON Trades Marginally Lower as Manufacturing BSI Data Misses Expectations
✅ We prefer to take long position on EUR/KRW only above 1,330, stop loss 1,320 and target of 1,358.
✅ EUR/KRW is currently trading around 1,329 mark.
Indian Rupee Strengthens Noticeably Against U.S. Dollar
USDINR Currencies Updates : – It made intraday high at 70.42 and low at 69.34 marks.
Technical Analysis – GBP/USD Gains some Ground But still below Descending Line
This level has become a key threshold for GBP/USD rates in recent times, with the current economic climate restricting any major advancements for the pound.