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USDINR

USDINR trading range for the day is 72.81-73.31.

USDINR dropped after the country’s central bank kept interest rates unchanged.

The repo rate or RBI’s key lending rate was held at 4% while the reverse repo rate or its borrowing rate was left unchanged at 3.35%

The RBI has already cut its key interest rate by a total 115 basis points since March 2020 to revive growth and cushion the impact of the COVID-19 pandemic.

EURINR

EURINR trading range for the day is 87.32-87.74.

Euro dropped as dollar climbed on confidence in the U.S. economic outlook.

The dollar’s move came as longer-term U.S. Treasury yields rose as investors positioned for a large pandemic relief package from Washington.

Eurozone retail sales grew in December after a sharp fall in November, data from Eurostat revealed.

GBPINR

GBPINR trading range for the day is 99.75-100.19.

GBP recovered to gains after the BoE left rates on hold and assuaged lingering fears of negative rates.

The BoE said Britain's banks would need at least six months to prepare for any cut in interest rates below zero

Britain's economic performance compared with other countries during the COVID-19 pandemic was nowhere near as bad as official data has suggested.

JPYINR

JPYINR trading range for the day is 69.08-69.48.

JPY dropped as dollar headed for its best weekly gain in three months, lifted by growing confidence that the U.S. economic recovery will outpace global peers.

The greenback got support from a rise in longer-term U.S. Treasury yields, which came as traders positioned for a massive fiscal spending package.

The average of household spending in Japan was down 0.6 percent on year in December, coming in at 315,007 yen.

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