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USDINR

USDINR trading range for the day is 81.31-81.95.

Rupee declined as investors reacted to hawkish Fed remarks and strong U.S. retail sales data.

Strong U.S. retail sales data cast doubt on recent hopes that inflation is declining and that the Fed will scale down the pace of its rate increases.

At one point, the 1-year USD/INR forward implied yield declined below 2.10%, its lowest level since 2011.

EURINR

EURINR trading range for the day is 84.17-85.03.

Euro dropped following dovish remarks from ECB officials and based on hope that the Federal Reserve will slow down the pace of U.S. rate hikes.

The euro zone swung to a large trade deficit in September from a small surplus a year earlier

Euro zone retail sales rose as expected month-on-month in September but fell less than expected year-on-year

GBPINR

GBPINR trading range for the day is 96.04-98.24.

GBP settled flat ahead of finance minister Jeremy Hunt's new budget full of "tough but necessary" measures to control inflation.

Inflation in the UK shot up at a rate of 11.1% in the year to October, the fastest increase since October 1981 and well above September's 10.1% rate.

The expectation in the market is for Hunt to announce somewhere in the region of 40 to 50 billion pounds of total fiscal tightening over the coming couple of years.

JPYINR

JPYINR trading range for the day is 58.17-58.85.

JPY remained steady after data showing Japan’s trade deficit widened more than expected in October

Japan’s economy unexpectedly contracted in the third quarter due to global inflation pressures

Bank of Japan Governor Haruhiko Kuroda said that the central bank would stick to monetary easing to support the economy

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