EURINR trading range for the day is 81.93-82.97 - Kedia Advisory
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USDINR
USDINR trading range for the day is 76.43-76.93
USDINR rose after hawkish remarks from Fed Chair at the IMF debate raised expectations of higher interest rates in the US.
The minutes of RBI MPC meeting showed the central bank has shifted its focus to fighting surging inflation even as growth worries remain.
Indian govt had 338.92 bln rupees outstanding loans from RBI in April 15 week
EURINR
EURINR trading range for the day is 81.93-82.97.
Euro dropped as investors shrugged off a largely-expected French presidential election result and focused on growth risks
ECB keen to hike rates as soon as July, end bond purchase program
The Ifo Business Climate indicator for Germany rose to 91.8 in April of 2022 from March’s 14-month low of 90.8
GBPINR
GBPINR trading range for the day is 97.08-98.66.
GBP dropped as money markets scaled back their bets on future monetary policy tightening from the Bank of England (BoE).
Money markets are currently pricing around 150 basis points (bps) of additional BoE rate hikes by year-end from 160 bps.
Data showed sliding retail sales and consumer confidence approaching all-time lows.
JPYINR
JPYINR trading range for the day is 59.51-60.23.
JPY rose amid reports that Japan and the US likely discussed the idea of coordinated currency intervention to stem further yen falls
The Bank of Japan is set to maintain ultra-low interest rates and hold off from major tweaks to its dovish policy guidance
The index of coincident economic indicators in Japan, was at 96.8 in February 2022
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