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USDINR

USDINR trading range for the day is 74.84-75.28

USDINR gained as the RBI kept the interest rate unchanged at 4% for the 10th time in a row

RBI surprised by leaving its key deposit rate unchanged against some predictions of a hike to re-align it with short-term money market rates

In addition, foreign fund outflows and elevated crude oil prices continued to weigh on the rupee.

EURINR

EURINR trading range for the day is 85.51-86.13.

Euro rose as investors assessed the European Central Bank's latest comments, seeking clues on when it might hike interest rates.

With euro zone inflation stuck at record highs, markets last week seized on ECB Lagarde not repeating that a 2022 rate rise was very unlikely.

Euro zone fiscal support for economy to shrink in 2023

GBPINR

GBPINR trading range for the day is 101.25-102.15.

GBP steadied amid uncertainty about the future path of the Bank of England’s monetary policy

BOE Governor Andrew Bailey warned markets not to take for granted the BoE was embarking on a rate hiking cycle

Money markets are still pricing in a 25 bps rate increase in March and 125 bps by December 2022

JPYINR

JPYINR trading range for the day is 64.65-65.15

JPY dropped amid prospects of aggressive tightening by the US Fed and other major central banks.

Japan's wholesale prices rise in Jan for 11th straight month on commodity spike

The BoJ’s Governor continued to rule out policy changes in the near future

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