12-08-2022 10:37 AM | Source: Kedia Advisory
GBPINR trading range for the day is 99.72-100.88 - Kedia Advisory
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USDINR

* USDINR trading range for the day is 82.25-82.99

* Rupee remained in range as the RBI raised interest rates and took a hawkish stance in its fight against inflation.

* The Reserve Bank of India raised its key repo rate by 35 bps to 6.25%, the sixth rate hike in a row

* Indian rupee should be allowed to find its level – RBI's Das

 

EURINR

* EURINR trading range for the day is 86.13-87.02.

* Euro fell as dollar crept higher as some of the biggest U.S. banks warned of an impending recession, which dampened appetite for riskier assets

* ECB chief economist said inflation was likely close to peaking, and investors prepared for a raft of major central bank decisions.

* Markets show investors widely expect a 50-bps rise in the ECB's 1.5% deposit rate on Dec. 15 before a string of further moves in 2023

 

GBPINR

* GBPINR trading range for the day is 99.72-100.88

* GBP dropped as dollar gained supported by concerns about a possible recession that hurt risk sentiment and the prospect of higher interest rates

* UK data showed high interest rates and a gloomy economic outlook slowed activity in the British construction industry to a crawl in November.

* The S&P Global/CIPS UK Construction Purchasing Managers' Index (PMI) fell to a three-month low of 50.4 from 53.2 in October

 

JPYINR

* JPYINR trading range for the day is 59.82-60.72

* JPY dropped after better-than-expected US services activity data suggested that Fed could raise interest rates for longer.

*Japan manufacturers’ mood hits 3-month high

* Japan coincident index drops to 3-month low

 

 

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