JPYINR trading range for the day is 57.3-58.08 - Kedia Advisory
USDINR
* USDINR trading range for the day is 77.87-78.31.
* USDINR remained supported as Fed’s super-sized rate hike weighed on risk appetite, raising fears of more capital outflows
* Indian central bank’s transition to a tighter monetary policy from an ultra-loose phase will be smooth and there won’t be any disruptions, Governor Das said
* Gross domestic product in India slowed to its weakest in a year last quarter.
EURINR
* EURINR trading range for the day is 81.95-82.99.
* Euro rose after ECB President Lagarde reaffirmed plans to hike rates twice this summer following last week's measures to mitigate a market rout
* Record high euro zone inflation risked fuelling "inflation psychology," European Central Bank chief economist Philip Lane said
* Euro zone current account deficit widens as energy price surge takes a toll
GBPINR
* GBPINR trading range for the day is 95.37-96.52.
* GBP rose as hawkish comments from policymakers supported the currency.
* The BoE's new message that it may have to act "forcefully" on interest rates is not unconditional and depends on the persistence of inflation pressures
* BoE's Pill says monetary policy shouldn't be used to stabilise sterling
JPYINR
* JPYINR trading range for the day is 57.3-58.08.
* JPY dropped after the Bank of Japan renewed its commitment to ultra-easy policy and bucked the trend among global peers to rapidly raise interest rates.
* Japan finmin says to respond to FX moves appropriately if necessary
* The BOJ made a rare reference to the currency market, saying it needed to watch its impact on the economy and markets.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory