IGI Logo

USDINR

* USDINR trading range for the day is 72.64-73.08.

* USDINR remained in range as U.S. bond yields jumped on the prospects of further economic recovery and a possible acceleration in inflation.

* India's trade deficit in goods narrowed to $14.54 billion in January as exports grew faster than imports

 *  A report from S&P said India was on track for an economic recovery in 2021/22, supported by falling COVID-19 cases

EURINR

* EURINR trading range for the day is 87.54-88.46.

* Euro dropped as concerns about a possible rise in inflation tempered optimism around a vaccine-led global economic recovery

* Investor morale in Germany rose beyond even the most optimistic forecast in February on expectations consumption will take off in the coming months

* Chancellor Angela Merkel and the premiers of Germany’s states agreed to extend restrictions to curb the spread of the coronavirus until March 7.

GBPINR

* GBPINR trading range for the day is 100.59-101.45.

* GBP dropped on profit booking after seen supported lifted by broad-based dollar weakness as well as Britain's success in rolling out the COVID-19 vaccine.

* Investors are optimistic that the Bank of England (BOE) will not push rates negative.

* British finance minister Rishi Sunak's annual budget on March 3 is set to have a green tinge, even as the country goes hundreds of billions of pounds into the red

JPYINR

 * JPYINR trading range for the day is 68.53-69.05.

* JPY dropped as dollar advanced hitting a four-month high against the yen as U.S. bond yields jumped on the prospects of further economic recovery

* The total value of core machine orders in Japan gained a seasonally adjusted 5.2 percent on month in December, the Cabinet Office said

* Japan posted a merchandise trade deficit of 323.9 billion yen in January, the Ministry of Finance said.

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer