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USDINR

USDINR trading range for the day is 74.25-74.87

USDINR dropped after the US president agreed to meet with his Russian counterpart to de-escalate tensions over Ukraine.

Fed’s Bullard, who had just called for aggressive action, warned last week that inflation could get out of control without rate hikes

Markets will be closely watching a string of public remarks from Federal Reserve officials this week for any hint on the timing and magnitude of rate hikes

EURINR

EURINR trading range for the day is 84.41-85.11

Euro dropped as investors weigh renewed tensions between Russia and the West over Ukraine

In Europe, ECB President Christine Lagarde reinforced that any change in the bank's policy will be gradual.

The latest Fed minutes pointed to increases in the fed funds rate in March although doubts, whether it will be a 25bps or a 50bps hike remained.

GBPINR

GBPINR trading range for the day is 101.24-101.91

GBP dropped but recovered some of its losses as hopes for a diplomatic solution to the Russian-Ukraine standoff boosted risk appetite.

The IHS Markit UK Composite PMI jumped to 60.2 in February of 2022 from 54.2 in January, beating market forecasts of 55

The pound showed the first net long position since November, the CFTC data showed.

JPYINR

JPYINR trading range for the day is 64.68-65.14.

JPY steadied after US president Joe Biden accepted in principle a summit with Russia’s Vladimir Putin to de-escalate tensions over Ukraine

Japan's manufacturing activity expanded at the slowest pace in five months in February as output contracted

Japan’s core inflation rate slowed to 0.2% in January, falling short of expectations and remaining well below the central bank target.

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