USDINR trading range for the day is 81.77-82.19 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 81.77-82.19
Rupee gains on healthy foreign fund inflows and rising bets that Fed would scale back its aggressive stance on interest rates.
The one-year implied yield closed seven basis points higher at 1.78%, after hitting a six-month low this week.
India's trade deficit widens to $22.12 billion; exports and imports slip in May
EURINR
Observations
EURINR trading range for the day is 89.06-90.14
Euro surged following ECB’s decision to raise interest rates for the eighth consecutive time.
The consumer price inflation in the Euro Area was confirmed at 6.1 percent in May 2023
Wages and salaries in the Euro Area advanced by 4.6% percent year-on-year in the first quarter of 2023
GBPINR
Observation
GBPINR trading range for the day is 104.17-105.13
GBP rose after days of economic data and central bank rate decisions, and ahead
BOE’s monetary policy meeting next week. Bank of England set to raise rates to 4.75% as inflation slow to fall
BoE Governor Bailey told inflation was taking "a lot longer than expected" to come down and the labour market was "very tight".
JPYINR
Observation
JPYINR trading range for the day is 57.85-58.97
JPY dropped after the Bank of Japan maintained its ultra-loose monetary policy
Japan’s central bank held its short-term interest rate target at -0.1% and that of 10-year bond yields at around 0%
Japan's core machinery orders increased by 5.5% month-on-month in April 2023.
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