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USDINR

USDINR trading range for the day is 81.41-81.97.

Rupee struggled as comments by Fed officials that were broadly consistent in the message that U.S. rates need to rise further.

Fed official said that rates may need to rise to 5%-7% to bring down inflation.

Money markets expect the RBI to raise its key interest rate by 50bps in its December meeting

EURINR

EURINR trading range for the day is 84.39-85.11.

Euro remained supported as the European Central Bank is seen tightening monetary policy further to tame stubbornly high inflation

Euro zone Oct y/y inflation revised marginally lower, still record high

The ECB may slow down the pace of rate increases next month, with the odds rising for a 50bps rate hike instead of another 75bps

GBPINR

GBPINR trading range for the day is 96.77-97.89.

GBP rose as figures showed retail sales rose 0.6% in October, well above market expectations

The GfK Consumer Confidence indicator in the United Kingdom rose slightly to -44 in November 2022

Chancellor Jeremy Hunt said the UK is already in recession and the OBR forecasted the British economy to shrink by 1.4% in 2023

JPYINR

JPYINR trading range for the day is 58.23-58.63.

JPY steadied after data showed that annual core consumer prices in Japan surged to a 40-year high of 3.6% in October

Japan's inflation hits 40 – year high as weak yen fans import costs

BOJ Kuroda vows to keep easy policy in wake of strong inflation data

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