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USDINR

Observations

* USDINR trading range for the day is 82.22-82.92

* Rupee rose following strong domestic growth data, which prompted traders to square off long dollar positions.

* The S&P Global India Manufacturing PMI increased to 58.7 in May 2023 from 57.2 a month earlier

* Infrastructure output in India increased by 3.5% year-on-year in April 2023, the least in six months

EURINR

Observations

* EURINR trading range for the day is 88.1-88.72

* Euro dropped as investors digested key inflation data from Eurozone economies.

* The consumer price inflation rate in the Euro Area fell to 6.1 percent in May 2023

* Eurozone Manufacturing PMI came in at 44.8 in May 2023, slightly up from a preliminary estimate of 44.6.

GBPINR

Observations

* GBPINR trading range for the day is 102.25-103.19

*GBP remained supported bolstered by expectations of additional interest rate hikes by the Bank of England.

* The Nationwide House Price Index in the United Kingdom dropped by 3.4 percent from a year earlier in May 2023

* Consumer credit in the United Kingdom grew by £1.586 billion in April 2023

JPYINR

Observations

* JPYINR trading range for the day is 59.24-59.66

*JPY dropped as BOJ has maintained its policy of ultra-low interest rates despite market pressure and persistent inflation.

*The au Jibun Bank Japan Manufacturing PMI was at 50.6 in May 2023

*This was the first growth in factory activity since last October, supported by a recovery in domestic economic conditions.

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