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USDINR

USDINR trading range for the day is 83.38-83.5.

Rupee remained in range after data showed the Indian Consumer Price Index (CPI) came in higher than the RBI target of 4.0%.

Fed kept the funds rate steady at a 22-year high of 5.25%-5.5%, but indicated three quarter percentage point cuts in 2024 in the “dot plot” projections.

Headline inflation remained within its tolerance range of 2–6% for the third consecutive month

SELL USDINR DEC @ 83.5 SL 83.65 TGT 83.35-83.2.

EURINR

EURINR trading range for the day is 89.9-90.16.

Euro dropped as the market attention will then shift to the ECB monetary policy meeting on Thursday.

German wholesale prices fell by 3.6% in November compared to last year.

The ZEW Indicator of Economic Sentiment for Germany went up to 12.8 in December 2023

BUY EURINR DEC @ 90 SL 89.8 TGT 90.25-90.5.

GBPINR

GBPINR trading range for the day is 104.18-104.92.

GBP dropped after an unexpected contraction in October's GDP

The British economy shrank 0.3% in October from September 2023, reversing the growth from the previous two months

UK jobs report revealed that British wage growth decelerated more than initially predicted over the three months leading up to October

BUY GBPINR DEC @ 104.5 SL 104.2 TGT 104.85-105.1.

JPYINR

JPYINR trading range for the day is 57.2-57.62.

JPY dropped as investors scaled back bets of interest rate hikes from the Bank of Japan ahead of its monetary policy decision next week.

The Bank of Japan's index for big manufacturers' sentiment climbed to 12 in Q4 of 2023 from 9 in Q3

Japan's central bank chief faces a key test of his communication skills at next week's monetary policy meeting

BUY JPYINR DEC @ 57.5 SL 57.25 TGT 57.8-58.