Global
equity markets tumbled as Trump suggested that US, China deal might be signed
after Nov-20 elections. Consequently, USD/CNH pair zoomed past 7.07, US 10 year
treasuries slipped below 1.73% and USD/JPY fell to 108.50. On the other hand,
GBP/USD pair spiked toward 1.30 handle amid favorable opinion polls for Boris
Johnson.
Yesterday,
Rupee reacted adversely to US, China trade deal concerns as it fell nearly 25
paisa on intraday basis. Going forward, market will closely track US
non-manufacturing PMI numbers and RBI monetary policy action. USD/INR pair has
immediate support at 71.65-68 levels and first resistance at 71.80-82 and second
resistance at 71.88-92 levels. Range for the day 71.65-71.92
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