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USDINR Remained Supported Amid Widening Concerns About the Chinese Property Sector

Published 06-10-2021, 08:44 am

# USDINR trading range for the day is 74.44-74.94.
# USDINR remained supported amid widening concerns about the Chinese property sector and firm U.S. Treasury yields.
# Latest weekly positioning data showed hedge funds have increased their dollar holdings against their rivals to their highest levels since November 2019.
# India’s trade deficit widened to USD 22.94 billion in September of 2021, from USD 2.72 billion in the same period last year

# EURINR trading range for the day is 86.42-86.94.
# Euro remained in range amid signs the European Central Bank will remain dovish for some time
# Euro zone ministers expect inflation to slow in 2022
# Eurozone inflation accelerated to the highest level in 13 years on surging energy prices in September, flash data from Eurostat showed.

# GBPINR trading range for the day is 101.29-102.09.
# GBP rose as traders turn their attention back to the prospect of interest rate rises in Britain.
# The final reading of the IHS Markit/CIPS composite Purchasing Managers’ Index showed strong overall growth for companies in September.
# UK's Sunak says he does not want more tax increases

# JPYINR trading range for the day is 66.96-67.4.
# JPY remained supported as renewed concerns about China's property sector and looming U.S. labour data put investors in a cautious mood.
# Japan's outgoing Finance Minister Aso said he urged BOJ to lower inflation target
# Investors are concerned that a collapse at Evergrande could hurt an already fragile Chinese economy and drag on global growth.

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