USDINR trading range for the day is 82.21-82.59 - Kedia Advisory
USDINR
Observation
USDINR trading range for the day is 82.21-82.59
Rupee fell as the risk of U.S. debt default and growth slowdown worries lent support to the dollar.
The RBI's recent interventions have helped in shoring up the country's forex reserves to $596 billion.
Recession concerns worldwide are likely to keep crude oil prices sharply below the peaks from last year, further easing inflation.
EURINR
Observation
EURINR trading range for the day is 89.08-89.72
Euro dropped as ongoing negotiations over the US debt ceiling continued to weigh on investor sentiment.
The Euro Area's consumer price inflation was confirmed at 7.0 percent in April 2023, slightly higher
Euro zone Q1 GDP growth confirmed at 0.1% q/q, Q1 exports jump
GBPINR
Observation
GBPINR trading range for the day is 102.19-103.11
GBP dropped amid persistent concerns regarding the US debt ceiling and the impact of further tightening by BOE.
BOE Bailey said that he hoped British interest rates are now near their peak UK's Hunt:
Inflation fall will not be automatic, requires sticking to the plan
JPYINR
Observation
JPYINR trading range for the day is 60.15-60.63
JPY dropped weighed down by general dollar strength amid global economic uncertainties
Japan GDP growth annualized expands 1.6%
Japan Q1 GDP growth beats forecasts
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