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2020-07-03 /FRIDAY

The dollar was hemmed into a narrow range in Asian Market opening trades today, supported by safe-haven flows as a resurgence of the coronavirus in the United States discouraged some investors from taking on excessive risk. The U.S. economy added more jobs than expected in June, but reaction in the currency market has been muted because another spike in coronavirus infections threatens to put the brakes once again on economic activity. New infections in the United States have been on an uptrend since June. The market is leaning more toward buying the dollar, particularly against emerging market currencies, because the dollar is considered the safest asset around. Meanwhile, the yuan held steady after data showing a strong rebound in China’s services sector, as investors avoided big positions due to worries about diplomatic friction between Washington and Beijing over civil liberties in Hong Kong. Moving over to the currencies, the dollar was little changed at 107.50 yen. Against the euro, the dollar traded at $1.1246 and against the British pound traded at $1.2465. With New York Markets closed today, currencies are expected to be tepid.  The Indian Rupee opened stronger and with a huge gap of 42 paise at 74.59/60 against its previous session’s close of 75.01/02 and is expected to trade in a range between 74.50 – 75.10 today.
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INR Rates

Symbol   Bid  ASK
USD75.46 75.47
GBP94.8985 94.92868
EUR84.56048 84.57557
JPY0.69376 0.69389
CHF78.34302 78.37557
AUD52.05985 52.07495
SGD53.95395 53.97325
CAD55.81361 55.83013
NZD48.21894 48.24912
*Closing Rates on : 2020-06-03

Stock Indices

IndexPointsChange
BSE Sensex35940.0696.36
S&P CNX Nifty10583.5531.85
NASDAQ10341.89262.644
HangSeng25373.12248.93
DJ IA25827.3692.39
DAX12614.616.15
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