IGI Logo

USDINR

* USDINR trading range for the day is 79.66-80.08.

* USDINR remained in range but getting close to record low as bets increased the Fed will continue to raise interest rates faster.

* Inflation level warrants appropriate monetary policy response, says RBI Governor

* Members of the Reserve Bank of India's monetary policy committee said outlook on inflation was highly uncertain.

EURINR

* EURINR trading range for the day is 79.59-80.71.

* Euro falls weighed down by concern that a three-day halt to European gas supplies later this month will exacerbate an energy crisis.

* Pressure also seen as a recession in Germany is increasingly likely.

* August Global S&P PMIs are expected to show manufacturing activity in Europe’s largest economy contracted at the fastest pace since May 2020

GBPINR

* GBPINR trading range for the day is 94.08-94.82.

* GBP dropped as inflation and recession risks continue to dominate traders' minds.

* UK borrows more than expected in July at 4.9 billion pounds

* British shoppers spent more than expected last month after being enticed by online shopping deals, official figures showed.

JPYINR

* JPYINR trading range for the day is 58.03-58.79.

* JPY dropped amid growing policy divergence and increasing interest rate differential between Japan and the US.

* BOJ repeatedly said that it will maintain ultra-low interest rates even as the US Fed signaled a commitment to tighter policies to curb high inflation.

* Japan's inflation holds above BOJ target, price pressures broaden

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer