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As treasurer, Bill Hayden set Labor on the path to economic rationalism 
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Interest rates: Monetary policy is always political as central banks opt to back the financial sector 
The yen plunges to 34-year low despite interest rate hike 
The Federal Reserve held off hiking interest rates 
The RBA has kept interest rates on hold. Here's why it'll be cautious from here on 
The Federal Reserve and the art of navigating a soft landing ... when economic data sends mixed signals 
The six-member panel of RBI MPC, after series of brainstorming sessions over two days, unanimously decided to cut its key lending—the repo rate—by 25 basis points to 6.25 percent, as a newly set up panel felt that inflation levels were low enough to reduce loan rates.
The committee also agreed that inflation was unlikely to gallop past the tolerance threshold of 6 percent in the near future.
From an FX perspective, we don’t see a great deal changing in terms of the RBI intervention policy under the new regime.
The RBI still has liquidity targets to meet and will also remain very mindful of export competitiveness. Such a backdrop will make it difficult for INR to rally strongly against the USD.
The central bank also maintained its prior growth projection of 7.6 pct for 2016-17.
USDINR: USDINR futures for October delivery opened slightly down after falling sharply in the previous session from its declining trend line resistance but managed to bounce back to the day highs of 66.61 levels. The prices consolidated for the whole session in the range of 66.70 - 66.80. Forward prices are projected to drop further in the medium run from this level towards 66.40 and 66.10 levels as sideways down trend is still in place. Stiff resistances are seen at 67 and 67.20 marks. Stay short on rallies for the medium term.
While GBPINR futures for October began trading slightly down factoring massive GBP selloff sentiments due to article 50 announcements (that addresses official Brexit formalities in Mar 2017) and prices continued to fall for half of the session and broke the strong support placed at its declining trend line around 86.10 and made a low of 85.91. Prices consolidated for the remaining session in the range of 86 - 86.20 and are expected to bounce from this level as prices were unable to close below the trend line support. Next resistances are placed around 86.60 and 86.90 levels.
EURINR futures for October delivery are inching slightly higher with gap and prices consolidated in the range of 75-75.10 for most of the session. The current prices have opened higher after testing support at 74.12 levels and are expected to rise further from this level towards next resistance levels placed at 74.40 and 74.60.
