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USDINR

Observations

USDINR trading range for the day is 81.66-81.98

Rupee was little changed as likely dollar purchases by the central bank offset foreign inflows into the domestic equity market.

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

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

EURINR

Observations

EURINR trading range for the day is 90.31-90.83

Euro steadied after the Federal Reserve delivered another 25bps increase in borrowing costs

ECB raised its key interest rates by 25 basis points during its May meeting, indicating a slowing pace of policy tightening

Germany's trade surplus increased to EUR 16.7 billion in March 2023 from EUR 16 billion in the previous month

GBPINR

Observations

GBPINR trading range for the day is 102.59-103.05

GBP rose following indications from the Fed that it may pause its rate hike cycle soon.

The S&P Global/CIPS UK Services PMI was revised higher to 55.9 in April of 2023 from a preliminary of 54.9

Britain's inflation rate remained above the 10% mark for the seventh month in a row

JPYINR

Observations

JPYINR trading range for the day is 60.77-61.37

JPY gains as the Federal Reserve delivered a widely expected 25 basis point rate hike

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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