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USDINR

Observations

USDINR trading range for the day is 81.9-82.14

Rupee remained in range amid comparatively loose monetary conditions by the RBI and a strong growth outlook.

India's forex reserves rise to $596.10 bln in week to June 16

India to be fastest-growing economy for next three years: S&P Global Ratings

EURINR

Observations

EURINR trading range for the day is 89.2-89.62

Euro steadied due to concerns surrounding the potential economic consequences of higher interest rates within the Eurozone.

The Ifo Business Climate indicator for Germany fell for the second consecutive month to 88.5 in June 2023

The recently released PMI data showed a notable deceleration in private sector growth across the Eurozone in June

GBPINR

Observations

GBPINR trading range for the day is 103.92-104.64

GBP steadied as traders grappled with the implications of the previous week's outsized rate hike by

the Bank of England. The Bank of England's larger-than-anticipated 50-basis point rate hike raised concerns about the potential for a UK recession.

The Bank of England implemented its 13th consecutive rate hike and suggested the possibility of further tightening measures

JPYINR

Observations

JPYINR trading range for the day is 57.06-57.62

JPY dropped prompting top diplomat Kanda to warn that the government is “not ruling out any options”

The index of coincident economic indicators in Japan, was revised lower to 97.3 in April 2023

The index of leading economic indicators in Japan, was revised lower to 96.8 in April 2023

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