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USDINR

Observations

USDINR trading range for the day is 82.15-83.25 Rupee dropped amid mounting risk aversion, after Credit Suisse woes renewed concerns over the health of the global banking sector. India's merchandise trade deficit narrowed to USD 17.43 billion in February 2023 from USD 18.75 billion in the same month last year Investors are also reassessing the outlook Fed monetary policy in light of the recent turmoil in the US banking sector and the latest US inflation report.

EURINR

Observations

EURINR trading range for the day is 87.24-89.12 Euro dropped as German economy expected to contract slightly in 2023 Investors awaited the European Central Bank's policy statement due on Thursday, with policymakers expected to raise interest rates by at least 25 bps The wholesale price inflation in Germany slowed for a fifth month in a row to 8.9 percent year-on-year in February 2023

GBPINR

Observations

GBPINR trading range for the day is 99.63-100.63 GBP dropped as dollar steadies as investors dialled back bets on U.S. rate cuts and fear of a banking crisis ebbed. The unemployment rate in the United Kingdom came in at 3.7 percent in November 2022 to January 2023 Average weekly earnings, including bonuses in the UK, rose 5.7% year-on-year to GBP 630 in the three months to January of 2023

JPYINR

Observations

JPYINR trading range for the day is 60.91-62.83 JPY gains as minutes from the BOJ meeting showed that members reiterated the need to maintain ultra-easy policies Japanese policymakers made no indications that the bank’s yield curve control would end The business survey index of large manufacturing firms in Japan fell to -10.5% in the first quarter of 2023 from -3.6% in the previous quarter

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