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USDINR

Observations

USDINR trading range for the day is 82.76-83.04 Rupee dropped on worries over the U.S. Federal Reserve's interest rate hike trajectory. India's Jan merchandise trade deficit at $17.75 bln Money markets have fully priced in a 25 basis points (bps) hike by the Fed in March and are almost certain of one more in May

EURINR

Observations

EURINR trading range for the day is 88.65-89.15 Euro dropped as dollar recovered after a stronger-than-expected US CPI report ECB could raise rates above 3.5% Euro zone employment rose by 0.4% quarter-on-quarter and by 1.5% year-on-year in the fourth quarter

GBPINR

Observations

GBPINR trading range for the day is 99.51-101.15 GBP dropped after fresh CPI figures showed inflation in the UK slowed more than anticipated in January to 10.1%. Factory gate prices of goods produced by UK manufacturers rose by 13.5% year-on-year in January 2023. Inflation fell for a third consecutive month to the lowest since September last year.

JPYINR

Observations

JPYINR trading range for the day is 62.06-62.72 JPY dropped after a stronger-than-expected US CPI report bolstered expectations the Fed will need to keep pushing interest rates higher Japan Q4 GDP growth annualized expands 0.6% Industrial production in Japan increased by 0.3 percent month-over-month in December 2022

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