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GBPINR Firms Above Record High 105 Mark

Published on Jul 07, 2023 11:52

GBPINR NSE futures pair is seen firming above 105 mark for the second day in a row on Friday. The pair is quoting at record levels and is currently seen at 105.40, up 0.14% on the day. Cautiousness ahead of crucial non-farm payrolls data due later today for further cues on Federal rate stance are seen adding immense pressure on the Indian rupee. Dollar index holding strength near 103 mark as benchmark treasury yields hover around 4% is weighing on INR, helping GBP higher. Meanwhile, GBPUSD pair is struggling near $1.2747 ahead of the data. Meanwhile, data revealed today UK house prices fell at the fastest annual pace since 2011 after a marginal drop on the month as the rise in mortgage rates hit the market, according to the mortgage provider Halifax. Halifax reported on Friday that the average UK property price was down 2.6 per cent in June compared with the same month last year, and more than double the drop of 1.1 per cent in May, marking the largest such fall since June 2011. Compared with the previous month, house prices were down 0.1 per cent, taking the average to �285,932.

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