Published on 3/12/2021 11:30:45 AM | Source: Kedia Advisory

USDINR trading range for the day is 74.99-75.37 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR trading range for the day is 74.99-75.37.

USDINR remained in range after India posted a record merchandise trade deficit of $23.27 billion in November

The market looked past fears over the Omicron coronavirus variant to focus on domestic factors, including strong economic data.

India's manufacturing activity grew at the fastest pace in 10 months in November, buoyed by a strong pick-up in demand



EURINR trading range for the day is 84.93-85.53.

Euro settled flat due to uncertainty around the Omicron coronavirus variant and the chances of quicker interest rate hikes than expected.

Euro zone inflation hits record high in likely peak

ECB should keep arm's length from governments, Weidmann says



GBPINR trading range for the day is 99.66-100.54.

GBP settled flat as doubts grew on whether the Bank of England will raise interest rates at a policy meeting this month.

BoE's Bailey says COVID impact weaker but still strong

Money markets were pricing in only 9 bps of rate hikes by the next meeting on Dec. 16 compared to 8 bps.



JPYINR trading range for the day is 66.19-66.77.

JPY remained supported as the Omicron variant established itself as the dominant strain in South Africa and continued to spread globally.

The Bank of Japan will continue to deliberate whether there is room for more improvement in its conduct of monetary policy

Japan's output rises for first time in 4 months as supply snags ease for carmakers



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