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USDINR

USDINR trading range for the day is 74.76-74.98

USDINR dropped as traders reassessed the outlook for monetary policy following a hawkish shift from major central banks.

India's services PMI slumps to 51.5 in January, slowest expansion in six months

India’s fiscal deficit in 2021-22 is set to reach 6.9% of GDP, compared to the 6.8% previously estimated, and 6.4% in 2022-23

EURINR

EURINR trading range for the day is 84.48-86.54.

Euro rallied as traders continued to ramp up bets on rate hikes this year following the European Central Bank's hawkish turn a day earlier.

ECB president Christine Lagarde chose not to repeat her past comment that a 2022 rate hike is very unlikely at the bank's policy meeting press conference.

Germany's factory orders grew more than expected in December driven by robust domestic demand, data from Destatis revealed.

GBPINR

GBPINR trading range for the day is 101.11-102.11.

GBP dropped on profit booking as many noting BoE caution on the longer-term inflation outlook.

The BoE increases UK interest rates by 25 basis points.

BoE to start unwinding its GBP895 billion quantitative easing program.

JPYINR

JPYINR trading range for the day is 64.98-65.36.

JPY dropped after BOJ Kuroda reiterated the central bank's resolve to keep monetary policy ultra-loose to support the economy's recovery from the COVID-19 pandemic.

BOJ's Kuroda vows to keep ultra – easy policy to support growth

Japan's economy likely rebounded in Q4 on solid consumption

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