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01-01-1970 12:00 AM | Source: Kedia Advisory
JPYINR trading range for the day is 57.3-58.08 - Kedia Advisory
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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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