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* USDINR trading range for the day is 69.18-69.88.
* Rupee remained dropped as pressure after bids form oil importers after crude prices continued to rise and on likely foreign portfolio outflows.
* India’s slowing economic growth is of serious concern and the country needs to urgently cut tax and interest rates to revive the economy.
* India’s services sector expanded at its slowest pace in seven months in April as some businesses postponed decisions and expansion plans.
* RBI Reference Rate for USDINR was at 69.1713.
* BUY USDINR JUN 2019 @ 69.30 SL 69.16 TGT 69.45-69.58. NSE.
* EURINR trading range for the day is 78-78.85.
* Euro held gains seen after a less dovish than expected central bank policy review.
* ECB ruled out raising interest rates in the next year and even opened the door to cutting them or buying more bonds
* ECB turned dovish as expected in June, with the bank chief Mario Draghi confirming that the bank no longer has a rate-hike bias
* RBI Reference Rate for EURINR was at 77.7024.
* BUY EURINR JUN 2019 @ 77.75 SL 77.55 TGT 77.95-78.20. NSE.
* GBPINR trading range for the day is 87.86-89.05.
* GBP remained under pressure as investors are reluctant to take positions as they await the outcome of the Conservative party leadership contest.
* BOE Governor Mark Carney said a gradual and limited rise in interest rates may be needed in case of a smooth Brexit, in which the UK and EU agree a deal.
* The Committee is likely to have to raise interest rates further in order to keep inflation at target.
* RBI Reference Rate for GBPINR was at 90.4756.
* BUY GBPINR JUN 2019 @ 88.20 SL 88.00 TGT 88.45-88.65. NSE.
* JPYINR trading range for the day is 63.86-64.46.
* JPY traded in range as sentiment soured over U.S.-Mexico talks on tariffs and immigration, fuelling broader concerns about global trade hostilities.
* Bank of Japan raises 10-25 year JGB purchases to 200b Yen, up from 160B in last operation.
* Japanese Economy Minister Toshimitsu Motegi says that he will meet with Robert Lighthizer on June 13 to discuss trade.
* RBI Reference Rate for JPYINR was at 62.52.
* BUY JPYINR JUN 2019 @ 63.45 SL 63.25 TGT 63.58-63.70. NSE.
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