* USDINR trading range for the day is 70.99-71.63.
* Rupee remained under pressure after rise in crude prices amid reports of Saudi Arabia seeking crude from Iraq to support refineries
* Fed cut interest rates again to help sustain a record-long economic expansion but signalled a higher bar to further reductions in borrowing costs.
* India’s retail inflation rate increased to a 10-month high in August but stayed below the central bank’s 4% medium-term target
* RBI Reference Rate for USDINR was at 69.1713.
* SELL USDINR SEP 2019 @ 71.50 SL 71.65 TGT 71.32-71.20. NSE
* EURINR trading range for the day is 78.52-79.34.
* Euro recovered on short covering after prices dropped as dollar stood tall after the U.S. Federal Reserve cut rates by 25 basis points, as expected.
* The U.S. central bank, lowered the Fed funds target rate to a range of 1.75% to 2.00% “in light of the implications of global developments for the economic outlook.”
* Eurozone inflation was stable in August at its lowest level in nearly three years, latest data from the Eurostat showed
* RBI Reference Rate for EURINR was at 77.7024.
* SELL EURINR SEP 2019 @ 78.00 SL 78.32 TGT 77.72-77.64. NSE
* GBPINR trading range for the day is 88.45-89.38.
* GBP remained in range as Prime Minister Boris Johnson stuck to his pledge to take Britain out of the European Union by Oct. 31.
* Prime Minister Johnson is required by a law passed this month to ask the EU for a three-month delay to Brexit if a deal is not approved by Oct. 19
* With less than seven weeks until the Brexit deadline, Johnson is hoping a Brexit deal can be clinched at an EU summit on Oct. 17-18.
* RBI Reference Rate for GBPINR was at 90.4756.
* SELL GBPINR SEP 2019 @ 89.10 SL 89.45 TGT 88.85-88.65. NSE
* JPYINR trading range for the day is 65.64-66.64. # JPY dropped as the dollar rose as oil markets slowly recovered from a supply shock.
* Japan posted a merchandise trade deficit of 136.329 billion yen in August, the Ministry of Finance said.
* Japan's industrial production expanded as estimated in July, final data from the Ministry of Economy, Trade and Industry showed.
* RBI Reference Rate for JPYINR was at 62.52.
* SELL JPYINR SEP 2019 @ 63.40 SL 63.70 TGT 63.15-63.02. NSE
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