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USDINR

Observations

USDINR trading range for the day is 82.73-83.19 Rupee declined on the prospect of the U.S. Federal Reserve hiking interest rates further and for longer. Further declines were capped by a likely Reserve Bank of India (RBI) intervention via state-run banks. India's December-quarter economic growth, which is likely to show growth slowed amid weakening demand

EURINR

Observations

EURINR trading range for the day is 87.56-87.86 Euro remained under pressure weighed down by weak global sentiment after stronger-than-expected US economic data ECB is likely to continue raising interest rates after better-than-expected data showed Eurozone output growth accelerated in February to a nine-month high Investors also look ahead to a raft of eurozone economic reports including consumer confidence and consumer inflation expectations data.

GBPINR

Observations

GBPINR trading range for the day is 98.96-99.7 GBP dropped as data pointing to still-tight labor market and sticky inflation in US bolstered expectations Fed will maintain interest rates higher for longer. Bank of England is seen increasing Bank Rate by a further 25 bps to 4.25% next month to combat double-digit inflation MPC member Jonathan Haskel said earlier this month the BoE needed to be "really, really careful" about the risk of high inflation becoming embedded

JPYINR

Observations

JPYINR trading range for the day is 61-61.4 JPY dropped after incoming BoJ Governor Ueda stated the central bank must maintain its ultra-low policy stance for the time being. Japan leading index confirm at 2-year low Japan coincident index lowest in 7 months

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