The dollar moved little after the FOMC minutes even though the central bank reiterated its focus on getting the multi-decade high inflation under control, and the traders moved their focus to the NFP data.
As of now, the Dollar index is stable between the 104.00-104.20 zone. The USDINR pair after breaching the 83.00 mark has reentered the trading range between 82.50 and 83.00. Today we saw the pair make a move toward the lower end of the range.
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In the sessions to come, we will carefully observe the price action near the 82.50 zone. On the upside we expect the 83.00-83.20 zone to act as a resistance.’
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