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Published on 27/05/2019 9:32:29 AM | Source: Kedia Commodity Ltd

JPYINR trading range for the day is 63.11-64 - Kedia Commodity

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

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USDINR

*  USDINR trading range for the day is 69.28-70.02.

* Rupee dropped as the dollar hit its highest level in a month as economic and political uncertainties swept through Europe and Asia.

* Earlier in the day Rupee rallied after vote count suggested the ruling party led National Democratic Alliance was leading in several seats across the country.

* The United States is not without its own worries — a trade conflict with China being a major one — investors see the greenback as a relative safe haven.

 

EURINR

* EURINR trading range for the day is 77.63-78.23.

* Euro remained under pressure by the prospect of Eurosceptic parties across the continent performing well in the elections.

* European Central Bank policymakers acknowledged that they were less confident regarding a return of solid growth in the euro area in the second half of the year

* Policymakers acknowledged that some recent data had turned out even weaker than expected, the minutes said.

 

GBPINR

* GBPINR trading range for the day is 88.02-88.73.

* GBP weakened as pressure mounted on PM May to name a date for her departure after a backlash over her last-ditch plans for Britain’s exit from the European Union.

* House of Commons leader Andrea Leadsom has resigned and there was speculation other ministers could follow.

* Nearly three years after Britain voted 52% to 48% to leave the EU, it remains unclear how, when or even if it will leave the club it joined in 1973.

 

JPYINR

* JPYINR trading range for the day is 63.11-64.

* JPY traded in range as the dollar edged away from two-year highs after weak U.S. manufacturing activity data sparked worries about economy

* An inflation gauge closely watched by the Bank of Japan accelerated at its fastest pace in almost three years as some retailers passed on rising costs to households.

* The BOJ hopes that continued strength in the economy will prompt companies to raise wages and give consumers more purchasing power, thereby helping accelerate inflation.

 

 

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