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USDINR

Observations

USDINR trading range for the day is 82.72-82.88

Rupee remained in range amid importer demand and oil price worries

India's forex reserves fall $3.2 billion to $603.87 billion as on July 28

Service activity in the country reached its highest level in 13 years in July

SELL USDINR Aug 2023 @ 82.9 SL 83.05 TGT 82.72-82.62

EURINR

Observations

EURINR trading range for the day is 90.7-91.32

Euro steadied as markets assessed the latest economic data

Industrial production in Germany dropped by 1.5% month-over-month in June 2023

German orders rose against expectations for a drop

SELL EURINR Aug 2023 @ 91.1 SL 91.35 TGT 90.8-90.6

GBPINR

Observations

GBPINR trading range for the day is 105.16-105.62

GBP steadied as dollar remained in range as investors brace for US inflation data this week

BoE's Bailey: We expect inflation to fall to around 7% in July

UK firms dial back price and wage growth expectations – BoE

BUY GBPINR Aug 2023 @ 105.3 SL 105.05 TGT 105.6-105.8

JPYINR

Observations

JPYINR trading range for the day is 58.29-58.57

JPY remained in range as traders continuing to assess the impact of BOJ’s surprise yield curve control policy adjustment in late July.

Reserve assets in Japan increased slightly to $1.254 trillion in July 2023 from $1.247 trillion in June

The index of leading economic indicators in Japan, declined to 108.9 in June 2023 from a downwardly revised final 109.1 in the previous month

SELL JPYINR Aug 2023 @ 58.4 SL 58.6 TGT 58.1-57.9

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