USDINR remained supported amid concerns the U.S. Federal Reserve will taper its stimulus sooner than expected - Kedia Advisory
USDINR
* USDINR trading range for the day is 74.39-74.67.
* USDINR remained supported amid concerns the U.S. Federal Reserve will taper its stimulus sooner than expected.
* India's retail inflation likely cooled to 5.78% in July
* Fed officials say tapering is near, advancing discussion on rate hike
EURINR
* EURINR trading range for the day is 87.25-87.73.
* Euro remained under pressure as investor sentiment in Germany deteriorated for the third month in a row in August on fears that rising COVID-19 infections
* The ZEW economic research institute said its survey of investors’ economic sentiment fell to 40.4 from 63.3 points in the previous month.
* Euro zone investor morale falls to 3-month low on outlook angst
GBPINR
* GBPINR trading range for the day is 102.98-103.54.
* GBP remained in range with the greenback buoyed by more signs that Fed would start reining in its bond-buying support in the coming months.
* British consumer spending rose strongly in July, data from payment card provider Barclaycard showed, up 11.6% on pre-pandemic levels.
* The UK central bank left monetary policy unchanged last week, raising inflation forecasts for 2021
JPYINR
* JPYINR trading range for the day is 67.35-67.71.
* JPY remained under pressure tracking U.S. Treasuries as a strong labour market recovery in the United States spurred bets for a near-term tightening of monetary policy.
* Japan’s bank lending rose in July at the slowest annual pace in nearly nine years, data showed
* Japan's current account surplus beat estimates in June, rising sharply to JPY 905.1 billion from JPY 148.3 billion in the same month of 2020.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory