USDINR trading range for the day is 81.92-82.56 - Kedia Advisory
USDINR
Observations
USDINR trading range for the day is 81.92-82.56
Rupee logged its worst session in a month on persistent dollar demand from importers
Almost all FOMC participants judged it appropriate to leave the funds rate steady in June
The S&P Global India Composite PMI fell to 59.4 in June 2023 from a 13-year high of 61.1 in the prior two months
EURINR
Observations
EURINR trading range for the day is 89.25-89.89
Euro remained in range amid uncertainty about future monetary policy steps by major central banks.
Eurozone Services PMI was revised downwards to 52.0 in June 2023
Germany Services PMI was confirmed at 54.1 in June of 2023, the lowest reading in three months
GBPINR
Observations
GBPINR trading range for the day is 104.07-104.77
GBP steadied as BoE is watching economic indicators closely as it considers how many more rate hikes are needed
The S&P Global/CIPS UK Services PMI was confirmed at 53.7 in June of 2023, the lowest in three months.
UK Manufacturing Purchasing Managers' Index (PMI) fell to 46.5 from 47.1 in May, its lowest reading this year
JPYINR
Observations
JPYINR trading range for the day is 56.89-57.55
JPY gains on short covering as investors remained cautious while awaiting fresh market cues.
Japanese services activity stayed expansionary in June but logged the slowest growth in four months.
The au Jibun Bank Flash Japan Services Business Activity Index was revised lower to 54.0 in June 2023 from 54.2
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