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USDINR

Observations

USDINR trading range for the day is 82.3-82.64

Rupee rose as risk appetite in the region rose on fresh bets of Fed nearing the end of its rate tightening cycle.

Fed officials indicated the end to the rate hike cycle was near, sending U.S. yields lower.

India's foreign exchange reserves saw an uptick of $1.9 billion, taking the overall level to $595.1 billion

EURINR

Observations

EURINR trading range for the day is 90.62-90.94

Euro rose as investors believe that ECB has more work to do in order to address inflationary pressures in the Eurozone

Germany's inflation rate was confirmed at 6.4%, breaking the trend of a steady decline observed since the beginning of the year

The ZEW Indicator of Economic Sentiment for the Euro Area continued to plunge to -12.2 in July 2023, down from -10 in the prior month

GBPINR

Observations

GBPINR trading range for the day is 105.76-106.92

GBP rose after hotter-than-expected pay growth data added pressure on BOE to keep raising interest rates.

Average weekly earnings, rose by 6.9% year-on-year to GBP 651 in the three months to May of 2023

The unemployment rate in UK rose to 4.0 percent in March to May 2023, the highest level since the last quarter of 2021

JPYINR

Observations

JPYINR trading range for the day is 58.53-59.17

JPY rose as Fed officials signaled that the end of the current monetary policy tightening cycle is getting close.

Japan's machine tool dropped 21.7% year-on-year to JPY 121,158, easing from a 22.2% fall in the previous month

Japan services sentiment down to 3-month low

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