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USDINR

Observations

USDINR trading range for the day is 81.7-82.44

Rupee fell to a more than two-week low on the back of dollar purchases by importers and short covering

India's foreign exchange reserves are at a comfortable level currently, benefiting from RBI persistent intervention

Traders awaited clarity on U.S. debt ceiling talks and new inflation data for a clearer picture of the economic outlook

EURINR

Observations

EURINR trading range for the day is 89.9-90.48

Euro dropped as investor morale in the euro zone took a surprising dip in May.

Euro zone inflation will come down but momentum still high:

ECB's Lane Investors remain cautious ahead of key US inflation reports this week.

GBPINR

Observations

GBPINR trading range for the day is 103.08-103.92

GBP dropped on profit booking on expectations that the Bank of England will raise interest rates this week.

The Halifax house price index showed a slight increase of 0.1 percent year-on-year in April 2023

Retail sales in the United Kingdom rose 5.2% on a like-for-like basis in April 2023 from a year ago

JPYINR

Observations

JPYINR trading range for the day is 60.72-61.38

JPY steadied as investors remain cautious amid heightened economic uncertainties

Japan's spending downturn, wages decline heighten pressure on economy

The Bank of Japan maintained its ultra-easy monetary policy and made no adjustments to its yield curve control

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