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USDINR

Observations

USDINR trading range for the day is 82.51-82.83

Rupee ended higher as weaker-than-expected U.S. jobs data lowered expectations that Fed would be more hawkish.

India's forex reserves up by $1.9 bn to $595.1 bn

The rupee far forward premiums rose, tracking the drop in near-maturity U.S. yields.

EURINR

Observations

EURINR trading range for the day is 90.38-90.8

Euro gains after data showed U.S. economy created fewer jobs than expected in June

However, the gains were tempered by expectations of central banks tightening their policies worldwide

Industrial production in Germany unexpectedly declined by 0.2% month-over-month in May 2023

GBPINR

Observations

GBPINR trading range for the day is 105.25-106.11

GBP rose as bets grow that stubborn inflation in the UK will force BOE to raise interest rates

Investors were carefully considering the possibility of higher borrowing costs, coupled with concerns over a potential recession.

Governor Bailey emphasized that the recent interest rate surge was indicative of the economy's robustness and the unexpected persistence of inflation.

JPYINR

Observations

JPYINR trading range for the day is 57.86-58.52

USDINR AUG-JUL 0.0850 BUY JPYINR Jul 2023 @ 58.2 SL 58 TGT 58.45-58.65 JPY rose as a broad risk-off mood lent support and dollar turned lower

The index of leading economic indicators in Japan, increased to 109.5 in May 2023 from 108.1 in the previous month

Reserve assets in Japan fell slightly to $1.247 trillion in June 2023 from $1.255 trillion in May

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