Buy GBPINR Mar @ 111.7 SL 111.4 TGT 112-112.3 - Kedia Advisory
USDINR
SELL USDINR MAR @ 87.25 SL 87.35 TGT 87.12-87.
Observations
USDINR trading range for the day is 86.92-87.48.
Rupee rose amid dollar sales from foreign and state-run banks.
Concerns about the U.S. growth outlook alongside uncertainty about the growth-inflation impact of trade tariffs have weighed on the dollar.
The HSBC India Services PMI was revised lower to 59.0 in February 2025 from 61.6 in the flash reading
EURINR
BUY EURINR MAR @ 93.2 SL 93 TGT 93.5-93.7.
Observations
EURINR trading range for the day is 91.75-94.21.
Euro gains boosted by prospects of increased defense spending by European governments.
The ECB Governing Council agreed that monetary policy continues to be restrictive
The European Central Bank is expected to cut borrowing costs for the fifth time this week.
GBPINR
BUY GBPINR MAR @ 111.7 SL 111.4 TGT 112-112.3.
Observations
GBPINR trading range for the day is 110.89-112.37.
GBP gains as Dollar hovered near a three-month low amid concerns over slowing US economic growth and the impact of tariffs.
GBP also gained strength from expectations that UK interest rates will remain higher for longer.
BOE governor Andrew Bailey thinks a renewed bout of inflation is nothing to worry about.
JPYINR
SELL JPYINR MAR @ 58.75 SL 59 TGT 58.5-58.3.
Observations
JPYINR trading range for the day is 58.28-58.72.
JPY declined despite hawkish comments from a senior Bank of Japan official.
BOJ Deputy Governor Uchida stated that the central bank would raise interest rates further if its economic forecasts are met
The au Jibun Bank Japan Composite PMI stood at 52.0 in February, above flash data of 51.6.
