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Published on 23/11/2020 1:03:53 PM | Source: Kedia Advisory

JPYINR trading range for the day is 71.25-71.55. - Kedia Advisory

Posted in Top Stories| #Currency Tips #Kedia Advisory

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USDINR         

*  USDINR trading range for the day is 74.04-74.3.
*  USDINR traded in range as U.S. Treasury Secretary Steven Mnuchin called an end to some of the Federal Reserve’s pandemic lending.
*  Mnuchin's move re-appropriated some $455 billion allocated to the Treasury for other spending, but some investors were concerned about ending programmes
*  Fitch Ratings believes that the revival of the central government’s reform agenda has the potential to raise India’s medium-term growth rate.

 

EURINR

* EURINR trading range for the day is 87.67-88.33.
*  Euro remained supported as traders refocused on the EU funding crisis.
*  Hungary and Poland have threatened to veto the 7-year budget over rule of law clauses
*  The rising risk of lockdowns in the US has also led to an overall strong dollar.

 

GBPINR

* GBPINR trading range for the day is 98.04-98.7.
*  GBP remained supported on headlines UK-EU negotiators might announce a trade agreement on Monday
*  Britain left the EU in January and both sides are in talks to agree a future trading relationship after Britain loses access to the customs union and single market in 2021.
*  Reports that the UK and Canada are very close to reaching a post-Brexit trade deal are undoubtedly good news for both economies

 

JPYINR

*  JPYINR trading range for the day is 71.25-71.55.
* JPY traded in range as progress in COVID-19 vaccine development boosted hopes of a faster economic rebound.
*  BOJ Governor Kuroda says ending monetary easing too soon would be inappropriate
*  BOJ's Kuroda says CPI expectations should remain under zero for now

 

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