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USDINR

USDINR trading range for the day is 76.21-76.97.

USDINR dropped after RBI unexpectedly raised interest rates by 40bps aiming to tackle surging inflationary pressures.

The Federal Reserve raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years

The RBI also raised the cash reserve ratio by 50bps to 4.5%.

EURINR

EURINR trading range for the day is 80.45-81.05.

Euro remained in range as traders wait for European Central Bank President Christine Lagarde to give clues on her monetary policy plans.

ECB may need to hike rates in July, board member Schnabel says

German unemployment sinks in April as pandemic measures ease

GBPINR​​​​​​​

GBPINR trading range for the day is 95.51-96.23.

GBP dropped as investors have piled into dollars in expectation that the Federal Reserve will raise rates faster than other central banks

The Bank of England meeting, which is expected to result in a 0.25-percentage-point rise in interest rates

UK factory activity edges up from March's one – year low – PMI

JPYINR​​​​​​​

JPYINR trading range for the day is 58.74-59.24.

JPY dropped even the Bank of Japan strengthened its commitment to keep interest rates ultra-low

The Bank of Japan doubled down on its massive stimulus program and reinforced a commitment to its super-low yield policy.

Japan consumer confidence edges up in April, first rise in six months

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