USDINR trading range for the day is 79.22-79.8 - Kedia Advisory
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USDINR
* USDINR trading range for the day is 79.22-79.8.
* USDINR rose to all time high as traders continued to move into safe US assets as fears over recession grew
* Inflation to ease gradually in H2 this year: RBI Governor
* India inflation likely held steady just above 7% in June
EURINR
* EURINR trading range for the day is 80.27-81.05.
* Euro steadied as the biggest single pipeline carrying Russian gas to Germany entered annual maintenance, with flows expected to stop for 10 days.
* The euro had fallen to the brink of parity at $1.0072 after the release of a bigger-than-forecast U.S. payrolls figure for June before bouncing higher.
* Most ECB policymakers favored a 25bps rate hike in July but some officials preferred to keep the door open for a larger increase
GBPINR
* GBPINR trading range for the day is 94.74-95.62.
* GBP remained in range as traders held their breath before a leadership contest kicks off to determine the successor of Boris Johnson.
* Johnson's resignation deepens the uncertainty hanging over Britain's economy, already under strain from an inflation rate heading for double digits
* Labor productivity in the UK as measured by output per hour decreased by 0.6% on quarter in the first three months of 2022
JPYINR
* JPYINR trading range for the day is 57.89-58.39.
* JPY dropped after Japan's ruling conservative coalition's strong election showing indicated no change to loose monetary policies.
* Japan's machinery orders fall for first time in 3 months
* BOJ's Kuroda warns of high economic uncertainty, repeats easy policy bias
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