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Published on 14/02/2018 8:54:57 AM | Source: Kedia Commodity Ltd

JPYINR trading range for the day is 59.08-59.52 - Kedia

Posted in Currency Report| #Kedia Commodity Ltd #Currency Tips #

USDINR

* USDINR trading range for the day is 64.3-64.51.

* Rupee appreciated on likely foreign institutional fund inflows into local stocks and on caution ahead of India's retail inflation data.

* The greenback remained subdued against other major currencies on uncertainty about US inflation data scheduled for release later this week.

* Meanwhile, US President Trump is expected to release a plan to generate $1.5 trillion in infrastructure upgrades and he will also deliver his 2019 budget blueprint.

EURINR

* EURINR trading range for the day is 78.93-79.3.

* Euro traded in range as declining risk appetites and higher volatility prompted market players to reduce their positions.

* Euro was susceptible to such position-squaring before the recent market upheaval had been to buy the euro on expectations of ECB unwinding monetary stimulus.

* Italy's industrial production increased for the third successive month in December, and at a faster-than-expected pace, preliminary data showed.

GBPINR

* GBPINR trading range for the day is 88.99-89.63.

* GBP dropped after the European Union’s Brexit negotiator warned Britain that a post-Brexit transition deal was “not a given”.

* BOE gave a rosier view of the British economy, but its hawkish comments on interest rates hinged on smooth negotiations with the EU in the coming months.

* Investors bet Britain can secure itself a transition deal with the EU and then leave the bloc next year on favourable terms.

JPYINR

* JPYINR trading range for the day is 59.08-59.52.

*JPY edged higher but traded below a five-month high as a bounce in U.S. equities late last week dampened demand for traditional safe haven currencies.

* The yen tends to attract demand in times of market stress as the currency is backed by Japan’s current account surplus.

* The Japanese government had decided to nominate Haruhiko Kuroda for a rare second term as Bank of Japan governor when his current one expires in April.

 

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