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Published on 3/03/2021 10:00:52 AM | Source: Kedia Advisory

USDINR trading range for the day is 73.45-73.87 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

USDINR trading range for the day is 73.45-73.87.

Rupee appreciated as investors hoped for a quicker economic recovery helped by the COVID-19 vaccination rollout and a growth-focused federal budget.

India manufacturing PMI inches down in February

Business sentiment remained positive, amid hopes an improvement in economic conditions and the lifting of restrictions as the vaccination programme expands.

 

EURINR

EURINR trading range for the day is 88.21-89.05.

Euro seen under pressure as top officials from the European Central Bank sounded alarm over rises in bond yields.

President Christine Lagarde said the ECB will prevent a premature increase in borrowing costs for firms and households.

ECB President Lagarde- Pandemic is still heavily weighing on European economies

 

GBPINR

GBPINR trading range for the day is 101.9-102.7.

GBP depreciated as investors remain cautious ahead of UK Chancellor Rishi Sunak’s budget

Bank of England moves on negative rates are contingency planning – Ramsden

A recent rally has made GBP the best-performing G10 currency of 2021, supported by hopes of a quicker economic recovery and rapid pace of vaccinations

 

JPYINR

JPYINR trading range for the day is 68.63-69.37.

JPY dropped as dollar rose on strong demand and investors' risk aversion due to concerns over the US bond market.

Japan Q4 capex down for 3rd straight quarter, jobless rate steady

The yield on the US 10-year Treasury rose by more than 2.0%

 

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