EURINR trading range for the day is 82.47-83.13 - Kedia Advisory
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USDINR
USDINR trading range for the day is 75.97-76.75.
USDINR dropped as investors increasingly bet the Fed will need to raise rates faster to rein in soaring inflation.
IMF lowers India's growth forecast to 8.2% for FY23
The World Bank cut the GDP growth forecast amid inflationary risks caused by the Russia-Ukraine war.
EURINR
EURINR trading range for the day is 82.47-83.13.
Euro remained supported as Industrial production in the Euro Area increased 0.7% mom in February of 2022
The euro zone suffered a trade deficit for a fourth consecutive month in February
German producer prices at record high amid Ukraine war
GBPINR
GBPINR trading range for the day is 99.18-99.98.
GBP remained under pressure amid concerns over high inflation and downbeat economic growth revisions by the IMF.
High inflation pressures arising from soaring energy prices are hurting households' purchasing power and squeezing their finances.
Markets expect the Bank of England to raise rates to 1% during the meeting on May 5th and see 140 basis points of hikes by year-end.
JPYINR
JPYINR trading range for the day is 59.34-60.04.
JPY dropped as the Bank of Japan stepped into the market again to defend its ultra-low interest-rate policy
BOJ may tweak dovish guidance if inflation expectations heighten
Weak yen alone won't drive BOJ to amend policy
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