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USDINR

Observations

USDINR trading range for the day is 82.22-82.76

Rupee logged its worst day in a month as Fed minutes indicated that further monetary policy tightening was likely this year.

Rupee far forward premiums were hovering near the lowest level since 2011

The S&P Global India Services PMI declined to 58.5 in June 2023 from 61.2 in May

EURINR

Observations

EURINR trading range for the day is 89.22-90.26

Euro gains as factory orders in Germany rose by 6.4% month-over-month in May 2023

Euro zone producer prices fell for a fifth consecutive month in May, data showed

Euro zone business activity slipped into contractionary territory last month

GBPINR

Observations

GBPINR trading range for the day is 104.24-105.8

GBP rose after a survey from BoE showed British companies' expectations for selling price inflation had cooled.

BoE Governor Andrew Bailey said the BoE has to set the interest rate "to get (UK inflation) all the way down to 2%".

The BoE is watching economic indicators closely as it considers how many more rate hikes are needed to control inflation.

JPYINR

Observations

JPYINR trading range for the day is 57.18-57.92

JPY gains as a broad risk-off mood lent some support to the safe-haven yen.

Finance Minister Suzuki confirmed the claim without revealing specific discussions, and warned against excessive yen selling.

BOJ Governor Ueda reiterated that “there’s still some distance to go” in sustainably achieving 2% inflation accompanied by sufficient wage growth

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