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USDINR

Observations

USDINR trading range for the day is 81.84-82.16 Rupee weakened as the dollar index recovered some ground, tracking a rise in Treasury yields following mixed U.S. data. India wholesale inflation at near 2-1/2-year low USD/INR forward premiums fell, with the 1-year yield down to a one-month low of 2.30%

EURINR

Observations

EURINR trading range for the day is 89.8-90.28 Euro dropped as investors focused on future ECB rate hikes with growing caution given that an expected peak of 3.75% was already priced in. Eurozone policymakers are set to deliver two more 25 bps rate hikes by mid-year to combat inflation. The headline inflation in the Euro Area was the lowest in 13 months in March, both core and food inflation hit a fresh record high.

GBPINR

Observations

GBPINR trading range for the day is 101.09-102.57 GBP dropped ahead of a busy week of economic data that will set the tone for the Bank of England's next meeting Bank of England's Tenreyro says patience needed to lower inflation BOE’s Pill said earlier the central bank still could not be sure that it has raised interest rates enough to tame inflation.

JPYINR

Observations

JPYINR trading range for the day is 61.08-61.58 JPY dropped as signs that the US economy continues to be resilient reinforced expectations that the Federal Reserve will raise interest rates again next month BOJ's Shimizu warns of 'extremely high' uncertainty over Japan's economy Governor Kauzo Ueda’s indicated that the Bank of Japan will stick to its ultra-easy monetary policy until price stability is achieved.

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