JPYINR trading range for the day is 57.6-57.9 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.6-83.
Rupee strengthened as the dollar weakened, and RBI held its benchmark policy repo at 6.5 percent
The annual inflation rate in the US rose to 3.2% in July from 3% in June
Growth prospects intact in FY24 but external headwinds weigh: Finance Ministry
BUY USDINR AUG @ 82.6 SL 82.45 TGT 82.78-82.82
EURINR
Observations
EURINR trading range for the day is 90.8-91.6.
Euro remained in range due to concerns about global economic growth and the state of the banking industry, particularly in the US.
The latest economic data showed a larger-than-expected drop in China's imports and exports to weakened demand.
Financial markets predict that the ECB could raise rates further this year and keep them higher for a longer time.
SELL EURINR AUG @ 91.4 SL 91.6 TGT 91.15-91.
GBPINR
Observations
GBPINR trading range for the day is 105.1-106.
GBP steadied as traders stay cautious on the currency and focused on the weak UK economy.
UK house price balance hits 14-year low Surging interest rate expectations were tempered after British inflation fell more than expected in June.
SELL GBPINR AUG @ 105.7 SL 105.95 TGT 105.4-105.2.
JPYINR
Observations
JPYINR trading range for the day is 57.6-57.9.
JPY dropped as markets took the view that the Bank of Japan will be slow to exit stimulus
Japan producer prices rise the least in over 2 years
Investors continued to assess the impact of the Bank of Japan's move, after it kept its policy rates unchanged
SELL JPYINR AUG @ 57.7 SL 57.9 TGT 57.45-57.25.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
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