Downward reversal from a key resistance, coupled with a strong dollar, weakens the outlook for the currency

The resistance at 64.45 has held well and the rupee has reversed lower as expected. The currency which began the week on a strong note, appreciated to 64.48 against the dollar by Thursday. However, it failed to sustain at higher levels, giving back most of the gains notched up during the week. The rupee fell to a low of 64.74 on Monday before closing at 64.68.BoE joins the raceThe Bank of Englan...