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Published on 12/08/2020 10:14:12 AM | Source: Kedia Advisory

GBPINR trading range for the day is 97.56-98.38 By Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 74.53-75.15.
* USDINR dropped as U.S.-China tensions and a stalemate in the U.S. Congress over fiscal stimulus
* India posted a trade surplus of $790 million in June, its first in over 18 years, with imports plunging as the coronavirus pandemic depressed domestic demand
* India’s government plans to promote the manufacturing of selected products, especially lines in which China enjoys a big share in the global market

 

EURINR

* EURINR trading range for the day is 87.73-88.47.
* Euro rose after investor sentiment in Germany improved more than expected in August
* Investors are also keeping an eye on the rapidly deteriorating relationship between Washington and Beijing.
* Euro area investor confidence rose for a fourth straight month in August to its highest level since February this year

 

GBPINR

* GBPINR trading range for the day is 97.56-98.38.
* GBP remained supported shrugging off investors' uncertainty as the coronavirus crisis continues to escalate
* Unemployment is likely to almost double by the end of this year, the Bank of England said.
* The BoE cut interest rates to just 0.1% in March and expanded its bond-buying plan to almost $1 trillion.

 

JPYINR

* JPYINR trading range for the day is 70.24-70.88.
* JPY dropped as dollar climbed as the fiscal incentives in the United States and escalating U.S.-China tensions caught investors’ attention.
* Overall bank lending in Japan was up 6.3 percent on year in July, the Bank of Japan said - coming in at 572.705 trillion yen.
* Japan had a current account surplus of 167.5 billion yen in June, the Ministry of Finance said - down 86.6 percent on year.

 

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