USDINR trading range for the day is 72.69-74.49 - Kedia Advisory
USDINR
USDINR trading range for the day is 72.69-74.49.
USDINR gained to its highest level in three weeks as a few traders suspected that the central bank bought the greenback through state-run banks.
India's 2021 economic output likely to remain below 2019 level: UN report
In its second advance estimates of national accounts, the NSO has projected an 8 percent contraction in 2020-21, showing the pandemic impact.
EURINR
EURINR trading range for the day is 85.74-87.26.
Euro gained supported by weakness in Rupee and after data showed Eurozone industry confidence jumps to over 2-year high
Compounding the single's currency woes have been the widening interest rate differentials between German and U.S. yields.
Germany's business confidence improved in March to the strongest level since mid-2019 as firms were more satisfied with their current situation
GBPINR
GBPINR trading range for the day is 100.17-102.27.
GBP remained supported as market participants were generally upbeat about Britain's vaccine rollout and economic outlook.
However upside seen limited after European leaders stepped up warnings about limiting vaccine exports.
The British PM Johnson is gradually working to ease the Covid-19 lockdown restrictions, in tandem with progress in administering vaccines
JPYINR
JPYINR trading range for the day is 66.33-67.37.
JPY gained supported by weakness in Rupee despite spike in Treasury yields, as accelerating vaccinations and massive stimulus in the U.S. stoked inflation concerns.
The total value of retail sales in Japan was down 1.5 percent on year in February, coming in at 11.628 trillion yen.
The unemployment rate in Japan came in at a seasonally adjusted 2.9 percent in February
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