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Published on 1/03/2021 11:33:31 AM | Source: Kedia Advisory

USDINR trading range for the day is 72.71-75.09 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 72.71-75.09.

* Rupee weakened as global markets were rocked overnight by a surge in U.S. treasury yields to their highest levels since the pandemic began.

* India's April-January fiscal deficit hits 66.8% of full-year target

* India's central bank governor told investors to trust the bank to manage the government's massive borrowing programme

 

EURINR

* EURINR trading range for the day is 88.68-90.5.

* Euro appreciated due to weakness in Rupee and helped by stronger-than-expected consumer sentiment and GDP data from Germany.

* Investors have been also upbeat about lockdowns ending and economies re-opening, while concerns about COVID-19 vaccination delivery delays mounted.

* ECB chief Lagarde said that the central bank was closely monitoring the evolution of longer-term yields

 

GBPINR

GBPINR trading range for the day is 101.51-104.11.

GBP appreciated due to weakness in Rupee after pressure seen as dollar recovers after yields on 10-year U.S. Treasuries jumped as high as 1.6%

The British government is preparing for a gradual reopening of the economy after several months of lockdowns, which heralds the gradual economic recovery.

The British government has ramped up the distribution of vaccines in the country, and many agencies confirmed Britain's superiority over many other countries in this matter.

 

JPYINR

* JPYINR trading range for the day is 68.54-70.44.

* JPY gained tracking weakness in Rupee after prices dropped even amid a sell-off in stocks, as the surge in yields fomented inflation worries.

* Industrial output in Japan was up a seasonally adjusted 4.2 percent on month in January

* The value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month in January, coming in at 12.097 trillion yen

 

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