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USDINR

Observations

USDINR trading range for the day is 81.79-82.01

Rupee strengthened aided by a broad decline in dollar ahead of the expected quarter-point rate hike by Fed

The Federal Reserve raised the fed funds rate by 25bps to a range of 5%-5.25%, marking the 10th increase

India services PMI highest since 2010 and India composite PMI climbs to near 13-year high

EURINR

Observations

EURINR trading range for the day is 90.02-90.68

Euro gains as the ECB is expected to announce its seventh consecutive interest rate hike

Euro zone banks slowed lending further in March, ECB says

Euro zone banks tighten credit even as demand for it collapses – ECB

                                                                                                                                                                                                                                                                                                                                                      GBPINR                                                                     

Observations

GBPINR trading range for the day is 101.91-102.79

GBP gains as data highlighting a few bright spots in Britain's economy

Investors focused more closely on the outlook for UK rates relative to others

British factory output and new orders contracted at the start of the second quarter of 2023

JPYINR

Observations

JPYINR trading range for the day is 60.14-60.98

JPY gains as the dollar pulled back on growing recession fears and persistent concerns over the banking sector

The BOJ said it will remove forward guidance that pledges to keep interest rates at current or low levels.

The au Jibun Bank Japan Manufacturing PMI held at a six-month high of 49.5 in April 2023

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