JPYINR trading range for the day is 58.47-59.35 - Kedia Advisory
USDINR
* USDINR trading range for the day is 81.46-82.04
* Rupee remained in range as Fed minutes as policymakers agreed it would likely soon be appropriate to slow the pace of interest rate hikes.
* Rupee forward premiums dropped this week with the 1-year implied yield falling to 2.05% from 2.17% last week.
* India's unemployment rate eases to 7.2% in July-September 2022
EURINR
* EURINR trading range for the day is 84.91-85.49.
* Euro remained in range on expectations of a narrow interest rate gap between the ECB and the Fed.
* German consumer sentiment stabilizes with help of energy measures
* Last week Euro was supported by PMIs figures showing the contraction in Euro Zone business activity eased slightly in November
GBPINR
* GBPINR trading range for the day is 98.55-99.29.
* GBP remained pressured on profit booking amid the prospect of a difficult winter ahead in the UK and soaring interest rates.
* BoE's Ramsden favours more rate hikes, but sees potential for cuts
* Investors were digesting recent economic data and welcomed Rishi Sunak and Jeremy Hunt’s economic plans.
JPYINR
* JPYINR trading range for the day is 58.47-59.35.
*JPY dropped as investors took some profits following a strong rally driven BY Fed’s minutes
* Consumer inflation in Japan's capital rises at fastest pace in 40 years
* Bank of Japan Governor Kuroda recently stressed the need to maintain ultra-loose monetary policy to support the economy
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory