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USDINR

Observations

USDINR trading range for the day is 82.6-82.92 Rupee declined on concerns over rising U.S. yields, but avoided falling below a level considered critical by market participants. The annual consumer inflation in India accelerated to 6.52% in January, the highest in three months India's industrial production index grows 4.3% in December

EURINR

Observations

EURINR trading range for the day is 88.2-88.62 Euro remained in range as investors remain cautious ahead of key US inflation data The European Commission noted that EU economy entered 2023 on a better footing than projected in autumn and lifted the growth outlook for this year. ECB's Joachim Nagel joined a chorus of policymakers calling for even more tightening in the spring to bring inflation back to the 2% target 14 Feb 2023 target

GBPINR

Observations

GBPINR trading range for the day is 99.51-99.99 GBP eased after data showed the UK economy ground to a halt in the final three months of 2022, avoiding a technical recession, but logging zero growth. Monthly British gross domestic product data for December showed a 0.5% contraction, the Office for National Statistics said Money markets show traders believe UK interest rates will peak below 4.40% by late summer, from 4% right now.

JPYINR

Observations

JPYINR trading range for the day is 62.29-63.11 JPY dropped following the surprise nomination of Kazuo Ueda as the next Bank of Japan governor Ueda said, the central bank’s current ultra-easy policy “is appropriate” and “needs to be continued.” The BOJ maintained its ultra-low interest rates and left its yield control policy unchanged at its January meeting.

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