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Published on 22/07/2020 11:08:33 AM | Source: Kedia Advisory

GBPINR trading range for the day is 94.33-95.43 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 74.49-75.03.

* USDINR dropped as positive news on the coronavirus vaccine front bolstered risk sentiment and weighed on the safe haven currency.

* Pressure also seen after the Union Health Ministry said that India's Covid-19 fatality rate is progressively falling

* India’s wholesale price gauge contracted for a third month in June, with prices falling 1.81% from a year earlier.

 

EURINR

* EURINR trading range for the day is 85.09-86.01.

* Euro dropped as firmness in Rupee weighed after prices rose as traders focused on the deadlock in Brussels about EU recovery fund.

* Hard-hit countries like Italy and Spain disagreed with the new proposals by the frugal four states.

* The euro area current account surplus declined in May largely reflecting the widening deficit on the secondary income

 

GBPINR

* GBPINR trading range for the day is 94.33-95.43.

* GBP gains as traders react to the new Covid-19 vaccine news.

* A vaccine developed by AstraZeneca and Oxford University has shown impressive results in tests.

* China and the UK are seeing rising tensions after the UK banned Huawei from its 5G implementation.

 

JPYINR

* JPYINR trading range for the day is 69.43-69.97.

* JPY dropped as pressure seen after disappointing exports and imports data from Japan.

* Nationwide core-core CPI +0.4%, same rate of growth in May

* BOJ debated risks of returning deflation last week

 

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