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USDINR

Observations

USDINR trading range for the day is 82.32-82.56

Rupee closed near a two-week high ahead of U.S. inflation data and the Federal Reserve's rate decision.

The annual inflation rate in the US declined to 4% in May, the lowest since March 2021

Industrial production expanded by 4.2% annually in April, soaring past forecasts of 1.8%

EURINR

Observations

EURINR trading range for the day is 88.75-89.23

Euro gains as investors awaited monetary policy decisions from both the European Central Bank and the US Federal Reserve.

Germany's consumer price inflation was confirmed at a 14-month low of 6.1% year-on-year in May 2023

The European Central Bank is expected to hike its key interest rates by 25 basis points on June 15

GBPINR

Observations

GBPINR trading range for the day is 103.01-104.07

GBP fell as investors digested the latest update on the domestic labor market and its potential impact on monetary policy.

Labor market figures are expected to show the addition of 162K jobs during the three months to April

UK GDP for April is forecasted to have increased by 0.2% while industrial and manufacturing activity fell.

JPYINR

Observations

JPYINR trading range for the day is 59.21-59.49

JPY dropped ahead of BOJ’s policy meeting, expected to keep its ultra-easy monetary settings.

Japan business mood improves in Q2

BOJ officials have repeatedly stated they are intent on maintaining massive stimulus until the 2% inflation target is achieved

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