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USDINR

Observations

USDINR trading range for the day is 82.01-82.21

Rupee settled flat after a fresh set of U.S. data strengthened bets of more rate hikes by the Federal Reserve.

The US economy grew by an annualized 2% on quarter in Q1 2023

Indian banks' gross bad loans fall to a 10-year low of 3.9%: RBI's Financial Stability Report.

EURINR

Observations

EURINR trading range for the day is 89.79-90.19

Euro steadied as investors shrugged off hawkish remarks from

European Central Bank President Christine Lagarde

Germany's GfK Consumer Climate Indicator dropped to -25.4 heading into July 2023

The consumer confidence indicator in France increased to 85 in June of 2023, from 83 in the previous month.

GBPINR

Observations

GBPINR trading range for the day is 103.91-104.63

GBP dropped as markets continued to assess the economy’s resilience to incoming interest rate hikes.

Markets will also keep an eye on potential announcements from the UK government ahead of meetings.

The Confederation of British Industry's monthly distributive trades index rose to -9 in June from -10 in May

JPYINR

Observations

JPYINR trading range for the day is 57.14-57.58

JPY dropped as Japanese authorities did not rule out intervention to stem losses.

Japanese authorities are under renewed pressure to combat the yen's fresh declines driven by market expectations

The au Jibun Bank Flash Japan Services Business Activity Index unexpectedly slipped to 54.2 in June 2023

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