JPYINR trading range for the day is 57.84-59.72 - Kedia Advisory
USDINR
* USDINR trading range for the day is 79.7-80.06.
* USDINR gained as worries of an economic slowdown in developed economies bolstered an already firm dollar.
* Indian inflation still elevated, may warrant policy response-RBI bulletin
* Comments by Fed officials that once again seemed to signal that the U.S. central bank was unlikely to make a dovish pivot.
EURINR
* EURINR trading range for the day is 79.98-81.28.
* Euro dropped with investors worrying about further economic slowdown after Federal Reserve officials reiterated the need for higher rates.
* German producer prices see highest jump on record as energy costs bite
* Euro zone July inflation confirmed at 8.9% y/y, core measure sharply up
GBPINR
* GBPINR trading range for the day is 94.2-95.64.
* GBP dropped after policy minutes from the US Federal Reserve boosted the US currency to a level not seen in a month.
* UK consumer confidence hits new record low
* UK retail gets boost from online shopping in July
JPYINR
* JPYINR trading range for the day is 57.84-59.72.
* JPY dropped as rising domestic inflation failed to prop up the currency amid widening monetary policy divergence.
* Japan’s headline inflation rose 2.6% YoY in July from 2.4% in June, accelerating at the fastest pace since April 2014.
* The Bank of Japan will maintain ultra-low interest rates even as the US Federal Reserve signaled commitment to tighter policies
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory