Buy GBPINR Feb @ 107.4 SL 107.1 TGT 107.7-108 - Kedia Advisory
USDINR
SELL USDINR FEB @ 87.4 SL 87.55 TGT 87.25-87.15.
Observations
USDINR trading range for the day is 86.62-87.84.
Rupee fell to a record low after U.S. President Trump slapped tariffs on imports from Mexico, Canada and China.
India's January factory activity growth hit six-month high, PMI shows
India's current account deficit to widen in FY26, GDP to grow by 6.5 per cent: Crisil
EURINR
BUY EURINR FEB @ 89.4 SL 89.2 TGT 89.6-89.8.
Observations
EURINR trading range for the day is 88.39-90.41.
Euro slumped amid stronger dollar after President Trump followed through on his threats to impose tariffs.
ECB's Villeroy says Trump tariffs will increase economic uncertainty
Currently, traders are pricing in the possibility of three more cuts from the ECB by the end of 2025.
GBPINR
BUY GBPINR FEB @ 107.4 SL 107.1 TGT 107.7-108.
Observations
GBPINR trading range for the day is 106.38-108.16.
GBP plunged as the US dollar continued to strengthen following President Trump's sweeping tariffs on key trading partners.
Bank of England is still expected to reduce rates by 25 basis points during its February 2025 meeting
However, concerns about the sustainability of Britain’s debt levels remain a key focus for investors.
JPYINR
SELL JPYINR FEB @ 57.1 SL 57.3 TGT 56.9-56.7.
Observations
JPYINR trading range for the day is 56.33-57.33.
JPY gains as BOJ’s meeting summary revealed that officials discussed the possibility of further interest rate hikes.
BOJ signaled its readiness to hike rates again if economic conditions and inflation trends align with expectations.
Japan was not directly targeted by the tariffs, its economy, which is heavily reliant on exports and free trade
