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Published on 17/08/2022 10:59:30 AM | Source: Kedia Advisory

JPYINR trading range for the day is 59.5-60.12 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

 USDINR trading range for the day is 79.62-79.94.

USDINR rose after Fed officials suggested the central bank would remain hawkish despite some relief on the inflation front.

Annual inflation rate in India edged lower to a five-month low of 6.71% in July of 2022 from 7.01% in June

Fed policymakers sought to temper any expectations of significantly looser policy

 

EURINR

EURINR trading range for the day is 81.91-82.5.

Euro dropped as the output of industrial firms in the Eurozone decelerated in June

Germany current account surplus shrinks in June.

Euro zone June industry output up 0.7% m/m

 

GBPINR.

GBPINR trading range for the day is 96.26-97.68.

GBP dropped as traders digest the latest GDP figures which showed the UK economy shrank 0.1% in Q2 and 0.6% in June only.

Manufacturing output in the UK decreased by 1.6 percent month-over-month in June 2022

Britain's economy contracted by 0.6% in monthly terms during June.

 

JPYINR

JPYINR trading range for the day is 59.5-60.12.

JPY dropped as the dollar edged higher after hawkish comments from U.S. Fed officials pushed against U.S. inflation data.

Several Bank of Japan officials said recently that the central bank needed an exit strategy from its massive stimulus

Japanese Finance Minister flagged sharp fluctuations in the yen and said he would carefully watch currency moves and their impact on the economy.

 

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