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DAILY FOREX REPORT RESEARCH VIA 7/5/2013

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9977785000


MARKET HEADLINES

 Rupee turns lower as Subbarao's comments hurt sentiment The rupee turned lower as absence of any soothing comments from RBI chief D Subbarao on rupee hurt sentiment, says dealers. The rupee is at 60.30/31 versus Wednesday's close of 60.215/225 after remaining in a tight range for most of the session. The RBI Governor said he does not have a specific foreign exchange rate target, which raises concerns that the RBI is unlikely to defend any particular level strongly.

 Yuan rises along with stronger midpoint on dollar slide China's yuan rose on Thursday, following stronger guidance from the central bank after the dollar fell in overnight trade on policy jitters. The dollar index slid overnight as investors trimmed back long positions in the run up to the US July 4 holiday and payroll data on Friday, but it steadied in Asian trade. The spot yuan remained range bound on Thursday after opening at 6.1266 per dollar, up 0.07 percent from Wednesday's close. The People's Bank of China set the midpoint at 6.1755 per dollar before market open, up 0.08 percent from Wednesday.

 Swiss franc falls against euro, dollar; ECB review in focus The Swiss franc was weaker against the euro and the dollar on Thursday in thin trading ahead of the European Central bank's policy review and with US markets closed for a holiday, while traders also awaited Friday's US payrolls report. Political instability in Portugal, which has weighed on the euro in recent sessions, has also pressured the franc, which has traded in a fairly narrow range against the single currency since September 2011 when the Swiss National Bank imposed a 1.20 per euro cap to stave off a recession and deflation.


DAILY MARKET STATISTICS CURRENCY

EXPIRY

OPEN

HIGH

LOW

CLOSE

EURINR

29-Jul-13

78.5250

78.8000

78.0850

78.4700

EURINR

28-Aug-13

78.6250

79.0975

78.3825

78.7950

EURINR

26-Sep-13

78.7000

79.3500

78.6100

79.2675

GBPINR

29-Jul-13

92.1025

92.4725

90.9550

91.3375

GBPINR

28-Aug-13

92.3075

92.7700

91.2900

91.8025

JPYINR

29-Jul-13

60.6000

60.8375

60.2050

60.5250

JPYINR

28-Aug-13

60.6250

61.0700

60.4825

60.7475

USDINR

29-Jul-13

60.7500

60.7500

60.1525

60.3800

USDINR

28-Aug-13

60.6700

60.9300

60.4150

60.6625

USDINR

26-Sep-13

60.9200

61.1800

60.6700

60.8950

RBI REFERENCE RATE (As on 4TH JUNE 2013) UNDERLYING

RATE

USDINR

60.0905

EURINR

78.0787

GBPINR

91.5779

JPYINR

60.2500


USDINR DAILY ANALYSIS

PIVOT POINTS  S1-60.1050  S2-59.8300  PP-60.4275  R1-60.7025  R2-61.0250


EURINR DAILY ANALYSIS

PIVOT POINTS  S1- 78.1033  S2-77.7367  PP-78.4517  R1-78.8183  R2-79.1667


GBPINR DAILY ANALYSIS

PIVOT POINTS

 S1-90.7042  S2-90.0708  PP-91.5883  R1-92.2217  R2-93.1058


54.9950

JPYINR DAILY ANALYSIS

PIVOT POINTS

 S1- 60.2075  S2- 59.8900  PP-60.5225  R1- 60.8400  R2- 61.1550


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