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USDINR

USDINR trading range for the day is 74.43-74.95.

USDINR traded in range on back of dollar inflows towards initial public offerings and amid rising worries over inflation

The central bank expanded in June its version of quantitative easing to support economic growth and lowered its FY22 GDP forecast to 9.5%.

Fed's meeting minutes showed that substantial further progress on the economic recovery was generally seen as not having yet been met

EURINR

EURINR trading range for the day is 88.36-88.88.

Euro remained under pressure as concerns about new coronavirus variants also added to the cautious mood and the economic recovery would be derailed.

ECB will change its guidance on the next policy steps at its next meeting to reflect its new strategy and show it is serious about reviving inflation

ECB said that it has adopted a symmetric 2 percent inflation target that will allow a temporary overshoot.

GBPINR

GBPINR trading range for the day is 103.22-103.82.

GBP remained support after UK Prime Minister announced plans to remove remaining coronavirus restrictions affecting England on July 19th.

The UK economy is set to grow at a slower pace in the third quarter, the think tank NIESR said.

The UK visible trade deficit narrowed to an 11-month low in May, the Office for National Statistics reported.

JPYINR

JPYINR trading range for the day is 67.56-68.06.

JPY dropped as Prime Minister Yoshihide Suga's government put Tokyo under its fourth COVID-19 state of emergency.

Japanese wholesale prices continued to surge in June as import costs spiked at the fastest pace on record, data showed.

Japan’s core machinery orders rose for the third straight month in May.

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