USDINR trading range for the day is 72.51-72.79 - Kedia Advisory
USDINR
* USDINR trading range for the day is 72.51-72.79.
* USDINR ended with losses after the RBI Governor Shaktikanta Das said that the central bank will not put the breaks on liquidity
* The RBI Governor said that the COVID situation was managed reasonably well and the market should take the signal from the RBI and must trust it.
* India cabinet approves $1 billion plan to boost IT product exports
EURINR
* EURINR trading range for the day is 88.07-88.51.
* Euro remained under pressure tracking weakness in USDINR as investors digest Fed Chair Power dovish comments during his testimony before Congress
* The German economy expanded 0.3% on quarter in Q4, much better than initial estimates of a 0.1% growth
* The industry climate indicator in France increased by 1 point from a month earlier to 97 in February of 2021
GBPINR
* GBPINR trading range for the day is 102.31-102.87.
* GBP rose amid hopes that the economy will fully reopen this summer, as Prime Minister Boris Johnson unveiled plans to ease restrictions on the UK economy
* GBP has seen supported by hopes of a quicker economic recovery helped by the UK’s rapid pace of vaccinations and a post-Brexit trade deal with the EU.
* The UK unemployment rate rose to a near five-year high in the fourth quarter as the coronavirus pandemic continued to weigh on the labor market
JPYINR
* JPYINR trading range for the day is 68.34-69.24.
* JPY dropped amid worry about rising bond yields and a potential surge in inflation as the global economy recovers further from a health crisis
* Fed acknowledged that prices could rise later this year if Americans engage in a burst of spending as the coronavirus comes under control
* Regional Japanese governments have requested emergency pandemic measures be lifted ahead of the March 7 scheduled end as new COVID-19 cases trend lower
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