BUY JPYINR AUG @ 59.8 SL 59.6 TGT 60-60.2 - Kedia Advisory
USDINR
SELL USDINR AUG @ 95.6 SL 95.8 TGT 95.4-95.2.
Observations
USDINR trading range for the day is 95.36-95.54.
Rupee steadied with frequent dollar-selling interventions curbing declines from the prolonged uncertainty from Middle East conflict.
India’s wholesale prices increased 9.78% year-on-year in July 2026, slowing from a 9.87% gain in June, which was the fastest increase since September 2022
Passenger vehicle sales in India surged 31.2% year-on-year in July 2026, accelerating sharply from an 18.2% rise in the previous month to 395,199 units.
EURINR
BUY EURINR AUG @ 110.3 SL 110 TGT 110.6-110.8.
Observations
EURINR trading range for the day is 110.06-110.62.
Euro steadied as investors assessed stalled efforts to end the US-Iran conflict, with traffic through the Strait of Hormuz still limited.
Germany’s wholesale prices rose 5.3% year-on-year in July 2026, accelerating from a 4.9% increase in the previous month.
The annual inflation rate in France accelerated to 2.1% in July 2026 from 1.8% in June, confirming preliminary estimates.
GBPINR
BUY GBPINR AUG @ 129.2 SL 128.8 TGT 129.5-129.7.
Observations
GBPINR trading range for the day is 127.25-130.29.
GBP steadied as investors balanced resilient UK economic data against persistent geopolitical uncertainty in the Middle East.
UK GDP expanded 0.4% quarter-on-quarter in the second quarter, matching economists’ expectations and following 0.6% growth in the first quarter.
BOE left interest rates unchanged in July, with Governor Andrew Bailey saying disinflation remained on track despite persistent external risks.
JPYINR
BUY JPYINR AUG @ 59.8 SL 59.6 TGT 60-60.2.
Observations
JPYINR trading range for the day is 59.73-60.25.
JPY dropped as the absence of follow-up intervention from authorities encouraged speculators to continue betting against the currency.
Markets are speculating about a possible Bank of Japan rate hike in September or October amid concerns that a weaker yen will fuel inflation.
US Treasury Secretary Scott Bessent also said Japan should reinforce currency intervention with policies and economic fundamentals that support the yen.
