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USDINR 

Observations

USDINR trading range for the day is 82.56-82.92 Rupee closed down on the back of a hawkish Fed and hopes of a breakthrough in U.S. debt ceiling talks. S&P retains India credit rating; expects sound fundamentals to underpin growth Exporters expect a growth of 11-13% in FY24

EURINR 

Observations

EURINR trading range for the day is 89.02-89.56 Euro steadied with investors growing optimistic that the US government would be able to strike a deal on raising the debt ceiling soon The annual producer inflation in Germany eased for the seventh straight month to a 25-month low of 4.1% in April 2023 ECB’s Guindos said the central bank will need to keep raising interest rates further though most of the tightening has already been done.

GBPINR 

Observations

GBPINR trading range for the day is 102.42-103.1 GBP remained in range as investors remained cautious with the economy stagnating and the labour market softening. UK’s GfK Consumer Confidence rose to -27 in May 2023 from -30 in April BoE's Ramsden says pace of quantitative tightening could rise

JPYINR 

Observations

JPYINR trading range for the day is 59.74-60.18 JPY dropped as growing optimism over the US debt ceiling negotiations and hawkish signals from the Fed weighed on the currency. The core consumer price index in Japan, rose 3.4% in April 2023 from a year ago The BOJ maintained its ultra-easy monetary policy and made no adjustments to its yield curve control at the April meeting

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