USDINR trading range for the day is 82.72-82.98 - Kedia Advisory
USDINR
USDINR trading range for the day is 82.72-82.98.
Rupee ended marginally lower on growing concerns over the Federal Reserve's hawkish outlook on monetary policy.
The central bank's likely intervention helped the currency end almost flat for the week and sent forward premiums to a one-month high.
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%.
EURINR
EURINR trading range for the day is 87.71-88.19.
Euro remained in range as investors continue to assess hawkish central bank outlooks, from the ECB and a looming recession in Europe.
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 99.45-100.45.
GBP remained in range as investors weigh a less hawkish BoE and economic prospects.
The current account deficit in the UK shrank to GBP 19.4 billion or 3.1% of the GDP in the third quarter of 2022
The British economy expanded 1.9% year-on-year in the third quarter of 2022, below a preliminary estimate of a 2.4% rise.
JPYINR
JPYINR trading range for the day is 62.32-62.68.
JPY dropped on profit booking as dollar seen supported after stronger-than-expected US data
Japan's consumer inflation hits fresh 40 – year high
BOJ discussed potential impact of future policy tweak
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
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