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USDINR

Observations

USDINR trading range for the day is 81.9-82.48 Rupee declined amid worries over the U.S. interest rate outlook. Fed’s Powell opened the door to a 50 basis points hike by telling U.S. lawmakers that in the wake of recent economic data Hawkish expectations for the Reserve Bank of India also underpinned the domestic currency.

EURINR

Observations

EURINR trading range for the day is 86.43-87.09 Euro dropped as investors rushed for the dollar amid signs the US Federal Reserve might accelerate the pace of policy tightening Retail sales in Germany declined 0.3% month-over-month in January of 2023, following a 5.3% slump in December Germany industrial output growth strongest in 2-1/2 years

GBPINR

Observations

GBPINR trading range for the day is 96.93-97.83 GBP slips after BoE's Mann warns of risks for the pound Pressure also seen as investors turned to the greenback following Fed Chair Jerome Powell's hawkish remarks. Money markets are pricing in that the BoE interest rate will peak in September at 4.75%.

JPYINR

Observations

JPYINR trading range for the day is 59.74-60.2 JPY dropped after Fed’s Powell signaled that the US central bank will likely continue to hike interest rates aggressively Japan bank lending hits 22-month high Japan posts record current account deficit in Jan

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