USDINR trading range for the day is 82.6-83.02 - Kedia Advisory
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USDINR
USDINR trading range for the day is 82.6-83.02.
Rupee dropped as oil prices rose and investors assessed China's move to ease COVID curbs while cases continued to rise in the country.
The MPC is mandated to bring retail inflation down to 4% over the medium term while keeping it within the target band of 2%-6%.
The central bank's likely intervention helped the currency end almost flat for the week and sent forward premiums to a one-month high.
EURINR
EURINR trading range for the day is 87.79-88.65.
Euro remained supported as investors continue to assess hawkish central bank outlooks, from the ECB
The central bank also revised its inflation forecasts higher while the growth outlook was revised sharply lower.
Fresh PMIs for December showed private sector activity in the Euro Area shrank at the slowest pace in four months
GBPINR
GBPINR trading range for the day is 99.48-100.46.
GBP traded in range as investors weigh a less hawkish BoE and economic prospects.
BOE said inflation had peaked, suggesting there could be a pause in the current policy tightening next year.
Data showed UK CPI inflation fell to 10.7% in November, from a 41-year high of 11.1% in October
JPYINR
JPYINR trading range for the day is 62.01-62.49.
JPY remained in range as Japanese retail sales rose for a ninth straight month in November
Japan’s unemployment rate fell to 2.5% in November 2022 after standing at 2.6% in the past two months
Japan’s Ministry of Finance is to raise their 10-year JGB coupon rate to 0.4-0.5% from the current 0.2% in January. – Kyodo
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
![Euro remained under pressure on Thursday amid weaker set of economic numbers from Euro zone - ICICI Direct](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c49d5573f54fd1fe07309fbce5369a52.jpg)
![USDINR is trading near all time low and we might see some RBI intervention but as long as 82.80 - Tradebulls Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/0732326f21b0692a41afc4432d1a7a56.jpg)
![GBPINR broke down below its 100 DMA yesterday and closed with a big bearish candle around 103.82 - Swastika Investmart](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/842b8e5254d53919452a82c7f06190bd.jpg)
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Perspective note on rupee By Emkay Global Financial Services
![Rupee is likely todepreciate today due to rise indollar andUS treasury yields - ICICI Direct](https://portfolio.investmentguruindia.com/uploads/news/ICICI Direct IMAGE.jpg)
![Indian rupee traded higher on Monday on dollar decline witnessing strong buying in the opening trade. - HDFC Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2021/02/ec2ddf56085b1be8dcf3b235d7c904e0.jpg)
![JPYINR pair traded with negative bias and managed to closed below downward slopping resistance line in the last trading session - Monarch Networth Capital Ltd](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2022/09/dd0d47fe656081691d7b4bf34966b6cd.jpg)