USD/INR rebounded on strong dlr on Brexit worries, oil bids

The rupee settled at 68.95 against 68.82 at the previous close. The local unit moved in 68.54 -69.09 per dollar band intra-day.
Dollar/Rupee rebounded tracking strong dollar on worries of no-deal Brexit and increased bids from oil importers amid strong economic data from the US. ICICI Bank and Axis Bank are the main buyers. Also, dollar remained strong on worries over no-deal Brexit. Dollar also found support from the stock economic data released yesterday's, Dollar also received support from Brexit led worries, on growing fears of a no-deal Brexit should British lawmakers hold firm in their rejection of British Prime Minister Theresa May's EU divorce deal..

The dollar dropped on Friday, giving up some of its overnight gains and on track for a second cosecutive weekly dip thanks to renewed downward pressure on government bond yields. Currency derivative markets signaled a growing caution the outlook for the British currency with one-month risk reversals on the pound versus the euro and the dollar plunging to multi-month highs.
The euro tumbled more than half a percent on Friday below the $1.13 level as a big miss in German manufacturing survey data and falling bond yields prompted traders to cut their positions. The sharp drop in the single currency, its biggest fall in two weeks, rippled over to other currencies and yanked the dollar higher.

Gold was little changed on Friday below a three-week peak hit the day before, pressured by rising stock markets but remaining on track for a third straight weekly gain after the U.S. Federal Reserve said there would be no further interest rate hikes this year.
Oil fell further from 2019 highs on Friday, but was set for a third straight week of gains due to supply cuts led by producer club OPEC and by U.S. sanctions on Iran and Venezuela.

Date	Time	Currency	Event	Actual	Forecast	Previous
22-03-2018	14.00	EUR	German Manufacturing PMI (Mar)	44.7	48.0	47.6

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