USDINR trading range for the day is 75.04-75.64 - Kedia Advisory
USDINR
* USDINR trading range for the day is 75.04-75.64.
* USDINR remained supported as rising inflation expectations and higher bond yields boosted its appeal.
* U.S. Treasury yields firmed, as investors ramped up bets that the U.S. Federal Reserve was preparing to raise interest rates as early as next year.
* India's annual wholesale price-based inflation in September eased to 10.66% from the previous month's 11.39%
EURINR
* EURINR trading range for the day is 86.9-87.72.
* Euro dropped as dollar seen supported after treasury yields rose sharply after an unexpected rise in September’s U.S. retail sales
* Germany's top economic institutes upgraded economic growth projection for 2022 but lowered its projection for the current year
* Investors also took stock of data showing China’s economy grew slower than expected in the third quarter with power outages and supply bottlenecks
GBPINR
* GBPINR trading range for the day is 102.99-103.8.
* GBP rose boosted by rising expectations that the Bank of England will raise rates this year.
* Bank of England will have to act to contain inflation - Bailey
* BoE's Mann says she can wait before raising rates
JPYINR
* JPYINR trading range for the day is 65.49-66.33.
* JPY remained under pressure as the Bank of Japan remained firm on not pulling stimulus out of the market.
* A BOJ board member said that despite a positive outlook on Japan’s economy, the central bank will not reduce monetary easing for the time being
* Japan to urge oil producers to increase output, says PM Kishida
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory