USDINR trading range for the day is 74.29-74.65 - Kedia Advisory
USDINR
* USDINR trading range for the day is 74.29-74.65.
* USDINR remained supported amid expectations for tighter U.S. monetary policy in the near future.
* Also helping the safe-haven dollar is the current impasse over the U.S. debt ceiling that threatens to shut the government down.
* India's April – August fiscal deficit near 4.7 trln rupees – govt
EURINR
* EURINR trading range for the day is 86.01-86.71.
* Euro dropped amid signs the European Central Bank will remain dovish for some time while the US Federal Reserve moves towards tapering.
* The services confidence indicator in the Euro Area fell to 15.1 in September 2021, from 16.8 in the previous month
* German import prices rise at fastest rate in 40 years
GBPINR
* GBPINR trading range for the day is 99.82-100.44.
* GBP dropped as dollar rose near its highest levels in a year on rising expectations the Federal Reserve will taper stimulus from November.
* UK economy bounced back by more than thought in Q2
* The current account deficit in the UK unexpectedly narrowed to GBP 8.6 billion or 1.5% of the GDP in the June quarter of 2021
JPYINR
* JPYINR trading range for the day is 66.41-66.71.
* JPY ended with losses amid a recent spike in US Treasury bond yields as expectations grew that the Fed will start tapering in November
* Japan's factory output extends declines on car production cuts
* Retail sales in Japan fell by 3.2 percent year-on-year in August 2021
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory