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USDINR

SELL USDINR OCT @ 88.9 SL 89.05 TGT 88.75-88.65.

Observations

USDINR trading range for the day is 88.53-89.05.

Rupee was anchored near its record low as risk appetite waned amid renewed U.S.-China trade tensions.

India’s wholesale prices rose by 0.13% year-on-year in September 2025, falling short of market expectations for a 0.5% increase.

India's retail inflation dropped to a near three-year low of 1.5% in September, primarily due to falling food prices.

EURINR

BUY EURINR OCT @ 102.8 SL 102.5 TGT 103.1-103.4.

Observations

EURINR trading range for the day is 102.43-103.29.

Euro dropped as the latest trade developments reignited concerns over US-China relations.

ECB policy is robust enough to respond to changes the euro zone inflation outlook, so the bank can afford to keep a steady hand.

The European Central Bank's current monetary policy is appropriate, ECB policymaker Joachim Nagel said.

GBPINR

BUY GBPINR OCT @ 117.8 SL 117.5 TGT 118.1-118.4.

Observations

GBPINR trading range for the day is 117.26-119.04.

GBP dropped after data suggesting weaker wage growth raised expectations that BOE could continue cutting interest rates, albeit gradually.

The latest UK jobs report showed regular pay growth eased to 4.7% in June–August 2025, down slightly from 4.8% in the previous three months.

The United Kingdom’s unemployment rate rose to 4.8% in the three months to August 2025, above market expectations of 4.7% in July.

JPYINR

BUY JPYINR OCT @ 58.4 SL 58.2 TGT 58.6-58.8.

Observations

JPYINR trading range for the day is 58.33-58.77.

JPY rises as Trump-Xi meeting hopes shift US-China trade outlook, boosting safe-haven demand.

JPY faced additional pressure from a stronger dollar amid easing US-China trade tensions, with Presidents Trump and Xi Jinping expected to meet later this month.

Finance Minister Kato said Japan’s current situation differs from the Abenomics era of expansionary policy, noting that inflation, rather than deflation, is now the main concern.