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USDINR

USDINR trading range for the day is 77.57-77.94.

USDINR traded in a tight range as India Services PMI increased to 58.9 in May 2022, the highest since April 2011

India's manufacturing PMI steadied in May despite record inflation

India's trade deficit widens to $23.33 billion in may even as exports surge

EURINR

EURINR trading range for the day is 83.37-83.95.

Euro rose on short covering as investors continue to assess the outlooks for interest rates, inflation and growth

Hotter than expected inflation reports across the Eurozone sparked bets the ECB will need to raise rates faster than anticipated

The trade surplus in Germany narrowed sharply to €1.3 billion in April of 2022, the lowest since 1992.

GBPINR

GBPINR trading range for the day is 97.51-98.01.

GBP gains on short covering after pressure seen as investors have been weighing prospects of higher interest rates against expectations of economic slowdown

Markets are pricing in 138bps of BoE rate hikes by year-end, as inflation runs at 40-year highs and is expected to hit double digits in Q3.

BoE's Cunliffe seeing evidence of slowdown in housing market

JPYINR

JPYINR trading range for the day is 59.74-60.06.

JPY dropped as the U.S. Federal Reserve has raised interest rates quickly in an attempt to bring red hot inflation under control

BOJ's Kuroda says price rises could hurt consumer mood

The au Jibun Bank Japan Composite PMI was at 52.3 in May of 2022, compared with the flash print of 51.3 and after a final 51.1 in April

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