EURINR trading range for the day is 87.48-88.32 - Kedia Advisory
USDINR
* USDINR trading range for the day is 72.17-72.77.
* USDINR dropped as investors hoped for a quicker economic recovery in India helped by the COVID-19 vaccination rollout
* India 10Y Bond Yield Hits 25-week High
* India's foreign exchange reserves fell to $583.70 billion as of Feb 12, compared with $583.95 billion a week earlier, the Reserve Bank of India said.
EURINR
* EURINR trading range for the day is 87.48-88.32.
* Euro rose as dollar fell as progress in curbing coronavirus infections boosted sentiment for riskier assets
* European Central Bank policymakers expressed fresh concerns over the euro's strength but appeared relaxed over the recent rise in government bond yields
* The euro area private sector continued to contract in February, as extended lockdown measures weighed on the service sector
GBPINR
* GBPINR trading range for the day is 101.06-102.06.
* GBP rose as investors bet the U.K.’s rapid vaccine rollout will help pave the way for a reopening of the economy this year.
* Pound rises past $1.40 for first time since 2018 in vaccine play
* The Bank of England might need to cut interest rates below zero later this year or in 2022 if a recovery in the economy disappoints
JPYINR
* JPYINR trading range for the day is 68.21-69.15
* JPY remained in range as US dollar fell after the release of disappointing economic data, amid anticipation of talks on the stimulus plan.
* Japan’s central bank governor said he told the country’s prime minister the bank would conduct a review of its policy tools in March
* Yellen said that the US economy could return to growth and full employment in 2022
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