USDINR trading range for the day is 79.61-80.14 - Kedia Advisory
USDINR
* USDINR trading range for the day is 79.61-80.14.
* USDINR dropped amid a drop in crude prices, but losses were capped as importers and oil companies sought U.S. dollars.
* India's benchmark 10-year bond yields also fell 5 basis points to 7.1353% as a drop in global oil prices eased some concerns about inflation.
* India cenbank governor says aims to manage rupee depreciation expectations
EURINR
* EURINR trading range for the day is 79.56-80.3.
* Euro gains as investors awaited a policy decision from the ECB and comments from the head of the Federal Reserve
* ECB raised interest rates by a record 75 basis points, taking the deposit rate above 0% for the first time since 2012
* The Euro Area economy expanded 0.8% on quarter in the second quarter of 2022, higher than a 0.6% rise in the second estimate
GBPINR
* GBPINR trading range for the day is 91.51-92.63.
* GBP remained supported as new government is expected to unveil an energy rescue plan
* Pound continued its downward momentum falling to almost $1.14, the lowest level since 1985
* UK House price balance falls on economic concerns
JPYINR
* JPYINR trading range for the day is 55.4-55.94.
* JPY gained as Japan’s Q2 GDP Growth Revised Higher
* Japan Q3 GDP growth annualized expands 3.5%
* Japan current account surplus narrows in July
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory