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USDINR

Observations

USDINR trading range for the day is 81.86-82.06

Rupee gains as recession fears spooked investors, triggered by the hawkish speech from US Fed Chairman Powell

Fitch raises India's GDP forecast to 6.3% for current fiscal year

The rupee forward premiums have also inched up, which is helping to hold the positive sentiment in the currency.

EURINR

Observations

EURINR trading range for the day is 89.82-90.4

Euro gained supported by expectations of higher rates from the ECB

Eurozone recorded a current account surplus of EUR 4.2 billion in April 2023

The German economy will contract more than previously expected this year

GBPINR

Observations

GBPINR trading range for the day is 103.93-105.61

GBP rose as the Bank of England raised the bank rate by 50bps to 5% in June 2023

British inflation unexpectedly held steady at 8.7% in the year to May, defying predictions of a modest decline to 8.4%

Public sector net borrowing excluding banks in the UK was in deficit by £20 billion in May 2023

JPYINR

Observations???????

JPYINR trading range for the day is 57.62-58.1

JPY dropped as BOJ Governor Ueda reiterated the bank’s resolve to maintain ultra-loose monetary policy

BOJ's Noguchi: No need to make operational tweaks to YCC for time being

Too early for japan to tweak monetary policy: BoJ Adachi

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