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* USDINR trading range for the day is 68.62-69.15.
* Rupee gained as bets on a likely Fed rate cut later this month hardened following dovish comments from Fed officials, leading to a weak greenback.
* Dovish comments from New York Fed President John Williams and Fed Vice Chairman Richard Clarida supported a rate cut strongly.
* Investors now price in with certainty that the Fed would opt to cut interest rates by 25 basis points at its July 30-31 policy meeting.
* RBI Reference Rate for USDINR was at 69.1713.
* BUY USDINR JUL 2019 @ 68.60 SL 68.48 TGT 68.75-68.85. NSE
* EURINR trading range for the day is 77.3-77.78.
* Euro prices gained amid a decline of the US Dollar across the board after comments from Fed’s Williams.
* In Europe, expectations are high for a 10 basis point cut as Mario Draghi hosts one of his final rate meetings at the bank with his term is set to conclude in November.
* In the US, the Federal Reserve is expected to cut rates for the first time in over a decade to the tune of 25 basis points.
* RBI Reference Rate for EURINR was at 77.7024.
* SELL EURINR JUL 2019 @ 78.00 SL 78.32 TGT 77.72-77.64. NSE
* GBPINR trading range for the day is 86.06-86.71.
* GBP prices gained after the EU’s chief Brexit negotiator hinted that an alternative plan for managing the Irish border may be developed
* House of Commons passed an amendment that restricts the new PM from suspending the UK Parliament before Brexit.
* Increasing odds for a solution to the Irish border adds strength to Brexit optimism.
* RBI Reference Rate for GBPINR was at 90.4756.
* SELL GBPINR JUL 2019 @ 89.10 SL 89.45 TGT 88.85-88.65. NSE
* JPYINR trading range for the day is 63.83-64.25.
* JPY gained as U.S. dollar stayed weak on expectations the Federal Reserve will cut interest rate later this month.
* Worries about weak housing market data and continued uncertainty about U.S.-China trade negotiations weighed on the dollar.
* The all industry activity index rose 0.3 percent month-on-month in May, slower than 0.8 percent rise in April.
* RBI Reference Rate for JPYINR was at 62.52.
* SELL JPYINR JUL 2019 @ 63.40 SL 63.70 TGT 63.15-63.02. NSE
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