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USDINR 

Observations

USDINR trading range for the day is 82.67-82.91.

Rupee remained in range after the 10-year U.S. treasury yield rose

Dollar showed resilience despite some softening in U.S. economic data over last week.

Retail inflation to remain high in August data, will start moderating from Sept onwards: RBI Governor

SELL USDINR SEP @ 82.9 SL 83.08 TGT 82.72-82.58.

EURINR

Observations

EURINR trading range for the day is 89.28-89.68.

Euro dropped as investors assess a speech by European Central Bank President Christine Lagarde

German exports fell in July as global demand continues to falter

Euro zone August factory activity showed signs of recovery – PMI

SELL EURINR SEP @ 89.65 SL 89.85 TGT 89.4-89.2.

GBPINR

Observations

GBPINR trading range for the day is 104.13-104.85.

GBP dropped amid ongoing economic challenges and persistent inflationary pressures.

Markets continued to assess the policy trajectory that main central banks are likely to take ahead of BoE, ECB, and Fed decisions

BoE’s Pill recently stated that the central bank remains concerned about the persistence of inflation

SELL GBPINR SEP @ 104.7 SL 105 TGT 104.35-104.12.

JPYINR

Observations

JPYINR trading range for the day is 56.58-57.24

JPY dropped as the dollar index steadied above 104 as investors continued to assess the outlook for US interest rates

Japan finance minister says currencies should be set by markets

The au Jibun Bank Japan Manufacturing PMI was revised slightly downward to 49.6 in August 2023

SELL JPYINR SEP @ 56.8 SL 57 TGT 56.55-56.35.

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