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USDINR

USDINR trading range for the day is 77.29-77.85.

USDINR gains amid persistent foreign fund outflows, general dollar strength on the back of the prospects of Fed's aggressive monetary tightening plans, and soaring energy prices.

Annual inflation rate in India increased to 7.79% in April of 2022, the highest since May of 2014

India's cbank likely to raise inflation projection in June meeting, consider more rate hikes

EURINR

EURINR trading range for the day is 80.26-82.2.

Euro dropped as recession fears mount and rising concerns that inflation has yet to peak, after US inflation data came hotter than expected.

The European Central Bank firmed up expectations that it will raise its policy interest rate in July for the first time in more than a decade.

Investors are currently expecting the ECB to raise rates by 25bps in both July and September while delivering another increase at the end of the year.

GBPINR

GBPINR trading range for the day is 93.9-95.8.

GBP dropped as investors worry over the risk of recession despite surging inflation.

Fresh data showed the British economy expanded at a slower-than-expected 0.8% in Q1 and contracted 0.1% in March

The BoE expects the economy to stagnate in the second quarter while pointing to a nearly 1% drop in GDP in the final quarter of this year.

JPYINR

JPYINR trading range for the day is 59.44-60.9.

JPY rallied getting support from an easing in long-term Treasury yields from a multi-year peak above 3.2% at the start of the week.

Japan current account surplus higher than expected

Japan services sentiment rises to 4-month high

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