Weekly Forex Market Research ReportsMarket Outlook On Friday, continuing its upward journey for a third straight day, the rupee opened 3 paise higher at 71.1000 and throughout the week hovered in the range of 70.9575 and 71.5975 against the US dollar on increased selling of the American currency by exporters and banks. Moreover dollar weakness against major Asian peers and early gains in domestic bourses boosted the rupee sentiments. The pound hit a two-year high against the euro Friday and a three-month high against the dollar on growing confidence that the U.K. can avoid crashing out of the European Union. Fundamental News
- The Kiwi dollar is little changed today but higher than it started the week after inflation figures out led investors to pare back the odds of an interest rate cut this year
- Tokyo’s core consumer price inflation picked up slightly more than expected due to higher energy prices, but Japan’s central bank still has a long way to achieve its elusive 2% inflation target.
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