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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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