USD/INR Price News: USD/INR takes offers around 74.63, down 0.11% intraday, amid the initial hour of the Indian trading session on Friday. In doing so, the currency pair justifies pullback from multiple tops marked since mid-July 2020 as sellers attack 50-SMA.
Forex Today: The market mood remains upbeat amid better growth expectations. The drop in US yields is dragging the dollar down. President Joe Biden is set to provide an update on his spending plans and investors eye the Fed’s minutes to see if there is a tendency to raise rates. Cryptocurrencies are consolidating previous gains.
GBP/USD Analysis: US dollar recovers the previous day’s losses while refreshing intraday top to 1.3781, up 0.13% on a day, ahead of Tuesday’s London open. Although further easing of the UK’s covid-led lockdowns initially helped the Cable.
USD/INR Price: USD/INR extends pullback from 72.20 to around 72.60, down 0.07% intraday, during the initial Indian session on Thursday. In doing so, the quote rejected the previous two-day upside bias while easing below a confluence of 21-day and 50-day SMA.
The US dollar index (DXY) kicked off the new week on a stronger footing and albeit struggled to build on the bullish gap opening and remained below Friday’s swing highs. The index was last seen hovering around the 92.00 mark, up 0.10% for the day.
The greenback, when tracked by the US Dollar Index (DXY), returns to the negative territory after failing to test the key barrier at 92.00 earlier in the session.
US dollar index (DXY) fades early Asian bounce off two-week low while easing to 91.42 amid the initial Thursday. However, post-Fed breakdown of an ascending trend line from March 03 directs the bears to battle key horizontal support and 100-SMA by the press time.
US Dollar: Bulls are riding the price action wagon fast, partly to reports that reveal the world’s largest economy will expand 7.7% in 2021 coupled with having a rosier outlook for jobs.
USD/INR Price: The Organization for Economic Co-operation and Development (OECD) announced upward revisions to India’s economic growth projections for the fiscal year (FY) 2021-22, in its interim economic outlook released Tuesday.
The U.S. Dollar Index is trading higher against a basket of major currencies on Monday after clawing back from an earlier setback. The intraday rally has put the greenback in a position to challenge Friday’s three-month high.