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USDINR

USDINR trading range for the day is 72.48-73.18.

USDINR dropped amid signs that India's second wave of coronavirus infections is slowing and hopes of a global economic recovery

Inflation remains a key concern and constrains monetary policy from using the space available to act in support of growth, RBI said.

India's consumer price inflation rate slowed to a three-month low in April, remaining within the central bank's 2-6 percent target.

EURINR

EURINR trading range for the day is 88.36-89.14.

Euro dropped as dovish comments from European Central Bank officials sapped its momentum ahead of its policy meeting on June 10.v

ECB's De Cos states that the increase in Euro-Area inflation is transitory

ECB's Stournaras sees no reason to change pace of PEPP purchase programme

GBPINR

GBPINR trading range for the day is 102.81-103.79.

GBP pared gains after gaining earlier in day on rising expectations of an earlier than expected rate hike by the Bank of England.

Bank of England policymaker said the central bank was likely to raise rates well into next year.

Gertjan Vlieghe also noted an increase could come earlier if the economy rebounds more quickly than expected.

JPYINR

JPYINR trading range for the day is 65.78-67.08.

JPY dropped hampered by concerns about a delay in Japan’s economic recovery after reports that Japan is looking to extend a state of emergency in Tokyo.

In addition, the dollar enjoyed a boost from higher U.S. bond yields after reports that President Joe Biden will announce a $6 trillion budget for 2022.

The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in April

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