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USDINR

USDINR trading range for the day is 75.45-76.51.

USDINR settled flat as investors continue to digest prospects the Fed will tight monetary policy faster and a hawkish turn by RBI in its latest meeting.

The central bank raised its inflation forecasts while lowering the outlook for GDP growth.

RBI trims FY23 growth forecast to 7.2 pc amid geopolitical uncertainties

EURINR

EURINR trading range for the day is 82.53-83.53.

Euro recovered after incumbent French President Emmanuel Macron won a larger than expected share in the first round of the French election.

Policymakers signaled plans to end its asset purchase programme in Q3 and a large number wanted an immediate normalization of policy.

Some ECB policymakers argued that it was no longer evident that the pace of asset purchases continued to be proportionate

GBPINR

GBPINR trading range for the day is 98.64-99.66.

GBP remained in range after the latest data showed Britain’s economy slowed sharply in February.

UK GDP growth slows to 0.1% m/m in Feb from 0.8% in Jan

Reduced COVID spending, less car production, storms to blame

JPYINR

JPYINR trading range for the day is 60.34-61.4.

JPY dropped as BOJ’s firm commitment to maintain ultra-easy policies contrasted sharply with other major central banks that started normalizing monetary settings.

A senior BOJ official warned that excessive volatility in yen moves could hurt growth

Japan’s finance minister also recently nixed expectations of any government intervention in the currency markets

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