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USDINR

USDINR trading range for the day is 73.45-73.75.

USDINR seen supported after Ratings agency Moody’s slashed India’s growth forecast to 9.3% from its earlier estimate of 13.7% for FY22.

Moody’s said the second wave of the COVID-19 virus will “slow the near-term economic recovery and could weigh on longer-term growth dynamics”.

India to breach fiscal deficit target in FY22: Fitch Solutions

EURINR

EURINR trading range for the day is 89.09-89.49.

Euro dropped after Italy's industrial production declined in March

The European Commission revised upwards its GDP forecasts for 2021 and 2022, saying the growth will be driven by private consumption and investment

The French economy will return to its pre-COVID 19 levels of economic activity by the first half of 2022, said French Finance Minister Bruno Le Maire

GBPINR

GBPINR trading range for the day is 103.59-104.46.

GBP remained supported after UK economy, gearing up for recovery, grows more than expected in March

The BoE also said last week it expected economy would recover quickly as coronavirus restrictions are lifted to grow by 7.25% in 2021 as a whole.

The ONS data showed Britain's dominant services industry grew by 1.9% in March from February

JPYINR

JPYINR trading range for the day is 67.51-67.85.

JPY remained in range as accelerating coronavirus infection rates dampened risk sentiment.

Bank of Japan policymakers warned of uncertainties over the country's economic recovery as pandemic curbs hurt service consumption

The average of household spending in Japan was up 6.2 percent on year in March, coming in at 309,800 yen.

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