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USDINR

Observations

USDINR trading range for the day is 81.9-82.22

Rupee weakened as importers bought dollars ahead of the month-end

The Federal Reserve raised the target range for the fund's rate by 25bps to 5.25%-5.5%, in line with market expectations

RBI's persistent intervention has helped India's foreign exchange reserves climb back above $600 billion.

BUY USDINR Jul 2023 @ 81.92 SL 81.78 TGT 82.05-82.15

EURINR

Observations

EURINR trading range for the day is 90.48-91.4

Euro gains ahead of an expected rate rise from the Federal Reserve

In the Euro Area, GDP growth is expected to slow to 0.9% in 2023 before picking up to 1.5% in 2024.

Bank lending to households in the Eurozone increased by 1.7 percent year-on-year to EUR 6.87 trillion in June 2023

BUY EURINR Jul 2023 @ 90.8 SL 90.6 TGT 91.15-91.3

GBPINR

Observations

GBPINR trading range for the day is 105.35-106.37

GBP gains before Fed delivers a widely expected rate hike, as traders see the fight to tame inflation nearing its endgame.

The UK is likely to experience growth of just 0.4% in 2023 and 1% in the following year.

The Confederation of British Industry surveys total order book balance rose six points to -9.0 in July 2023

SELL GBPINR Jul 2023 @ 106 SL 106.25 TGT 105.7-105.5

JPYINR

Observations

JPYINR trading range for the day is 58.25-59.21 

JPY gains as traders awaited crucial policy decisions from the respective nations' central banks this week.

Yen moves slightly volatile – Japan official quotes BOJ's Ueda

The index of coincident economic indicators in Japan, was revised higher to 114.3 in May 2023

BUY JPYINR Jul 2023 @ 58.4 SL 58.2 TGT 58.7-58.9

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