Buy GBPINR SEP @ 126.8 SL 126.5 TGT 127.1-127.4 - Kedia Advisory
USDINR
BUY USDINR SEP @ 95.7 SL 95.5 TGT 95.9-96.1.
Observations
USDINR trading range for the day is 95.62-96.02.
Rupee was little changed hemmed in by likely central bank intervention on one side and pressure from volatile oil prices and surging global yields.
ADB has raised its FY27 India growth forecast to 7% from 6.6%, citing strong public investment and resilience in services and electronics exports.
Manufacturing PMI climbed to a seven-month high of 55.7 in September from 52.8 in August.
EURINR
BUY EURINR SEP @ 109.2 SL 108.9 TGT 109.5-109.7.
Observations
EURINR trading range for the day is 108.97-109.45.
Euro hovering near its weakest level in nearly two months, as the dollar strengthened amid expectations that Fed could deliver further interest rate hikes this year.
German business sentiment improved more than expected in September, reaching its highest level in more than three years.
Money markets are now pricing in at least one 25-basis-point ECB rate hike by year-end, with around a 40% probability of a second.
GBPINR
BUY GBPINR SEP @ 126.8 SL 126.5 TGT 127.1-127.4.
Observations
GBPINR trading range for the day is 126.45-127.29.
GBP fell its lowest level in three months, as investors digested fresh comments from BOE policymakers and amid stronger dollar.
The UK GfK Consumer Confidence Index rose to -13 in September 2026 from -14 in August, unexpectedly reaching its highest level since August 2024.
BOE’s Lombardelli said that interest rates may need to rise if energy prices remain elevated, unless there is clear evidence of a weakening economy.
JPYINR
BUY JPYINR SEP @ 60.6 SL 60.4 TGT 60.8-61.
Observations
JPYINR trading range for the day is 60.39-60.89.
JPY gained after Finance Minister Satsuki Katayama said President Donald Trump had expressed concerns about the yen.
The currency also remained under pressure from a stronger dollar and surging Treasury yields as expectations grew that Fed will tighten policy further to curb inflation.
Bank of Japan’s rate hike was viewed as insufficiently hawkish, with two officials dissenting from the decision.
