USDINR trading range for the day is 74.21-74.59 - Kedia Advisory
USDINR
* USDINR trading range for the day is 74.21-74.59.
* USDINR remained supported on expectations the U.S. Federal Reserve would soon start to unwind bond purchases gained momentum again.
* Fed Chairman Jerome Powell has warned that the latest increase in inflation could last longer than expected.
* Icra revises up India's fiscal 2022 GDP growth forecast to 9%
EURINR
* EURINR trading range for the day is 86.56-87.1.
* Euro remained under pressure amid signs the European Central Bank will remain dovish for some time
* Bundesbank - Sees German inflation peaking between 4-5% by year end, sees inflation still above 2% by mid-2022
* ECB's Lagarde - There are some factors that could lead to stronger price pressures than are currently expected
GBPINR
* GBPINR trading range for the day is 100.04-101.02.
* GBP dropped as due to a stronger dollar as the US Federal Reserve is seen tapering its bond-buying scheme in November
* Investors also digested the Bank of England's hawkish tone on monetary policy.
* Governor Andrew Bailey said interest rates could rise as early as this year, even before the current bond-buying program expires if necessary
JPYINR
* JPYINR trading range for the day is 66.59-67.07.
* JPY remained supported as traders digested ruling party elections and continued to monitor Evergrande’s interest payments.
* Japan's Aso urges joint monetary, fiscal policies to spur inflation
* Some said Japan's recovery timing might be delayed - minutes
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory