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USDINR

USDINR trading range for the day is 77.86-78.04.

USDINR gained as Fitch expects the South-east nation’s GDP growth to slow to 7.8% in FY 2022-23, from 8.5% projected earlier

Fitch Ratings revised India’s outlook to stable from negative, citing reducing downside risks to medium-term growth

Investors worried over the impact of monetary tightening on economic growth.

EURINR

EURINR trading range for the day is 82.32-83.22.

Euro dropped as investors come to terms that a possible larger than expected ECB rate hike in September will further darken the economic outlook.

The central bank decided to end net asset purchases under its asset purchase program and signaled it would raise interest rates by 25 basis points in July

Euro zone employment rose by 0.6% quarter-on-quarter and rose by 2.9% year-on-year in the first quarter

GBPINR

GBPINR trading range for the day is 96.58-97.8.

GBP dropped as market sentiment remains clouded by concerns about the implications of an aggressive tightening on a backdrop of sky-high inflation

Pressure also seen amid investor nervousness about a confidence vote on British Prime Minister Boris Johnson that left him politically vulnerable.

Heightened political uncertainty has added further pressure on sterling, which has declined more than 7% this year, weighed down by Britain's dismal growth outlook.

JPYINR

JPYINR trading range for the day is 57.97-58.69.

JPY dropped but recovered most of its losses after producer prices in Japan jumped 9.1% in May 2022 from a year ago

Producer prices in Japan remained at elevated levels as the Ukraine crisis and a weak yen pushed up the cost of energy and raw materials.

Japan's wholesale prices rose 9.1% in May from a year earlier, slowing from the previous month's increase

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