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USDINR

USDINR trading range for the day is 75.92-76.44

USDINR remained supported underpinned by rising Treasury yields and bets for a faster pace of Federal Reserve policy tightening.

Annual inflation rate in India increased to 6.95% in March of 2022, the highest since October of 2020, and above market forecasts of 6.35%.

The latest Federal Reserve minutes showed that officials planned to reduce the central bank’s massive balance sheet by about $95 billion a month

EURINR

EURINR trading range for the day is 82.71-83.11.

Euro seen some weakness as investors are concerned about the hit to economic growth from the war in Ukraine and surging commodity prices

Annual wholesale price inflation in Germany rose to another record peak of 22.6 percent in March 2022 from 16.6 percent in the previous month

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

GBPINR

GBPINR trading range for the day is 98.93-99.51.

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

UK jobless rate falls to lowest since 2019

The BoE is watching closely for signs that the lack of candidates to fill jobs will push up wages to the extent that it risks a wage-price spiral.

JPYINR

JPYINR trading range for the day is 60.64-61.08.

JPY recovered on short covering after seen pressure as BOJ’s firm commitment to maintain ultra-easy policies contrasted sharply with other major central banks

Japanese Finance Minister Shunichi Suzuki declined to comment on specific prices in foreign exchange markets

The Bank of Japan has repeatedly intervened to keep benchmark bond yields around zero.

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