USDINR trading range for the day is 75.07-75.53 - Kedia Advisory
USDINR
* USDINR trading range for the day is 75.07-75.53.
* USDINR remained supported after Fed chair Jerome Powell confirmed last week the Federal Reserve is ready to start tapering.
* India's trade deficit widens to record $22.6 bln in September
* India's foreign exchange reserves rose to $641.01 billion as of Oct. 15, compared with $639.52 billion a week earlier
EURINR
* EURINR trading range for the day is 87.39-88.01.
* Euro remained supported as dollar seen pressure as traders continued to focus on the prospect of interest rate hikes and tightening outside of the United States.
* German inflation expectations jump to 8-1/2 year highs
* German tax take surges, ministry optimistic on growth, inflation
GBPINR
* GBPINR trading range for the day is 103.35-104.03.
* GBP remained supported after recent survey data and policymaker comments underlined the threat of further inflationary pressure.
* British finance minister Rishi Sunak said that the outlook for interest rates and inflation will feed into his thinking ahead of next week’s annual budget.
* UK's economy gathers speed, inflation pressures mount - PMIs
JPYINR
* JPYINR trading range for the day is 66.05-66.49.
* JPY remained supported as bets on monetary policy divergence eased amid a cautious Fed stance.
* BOJ discussing phasing out pandemic support as economy reopens
* Japan's consumer inflation turns positive as energy costs rise
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory