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USDINR

BUY USDINR AUG @ 95.6 SL 95.4 TGT 95.8-96.

Observations

USDINR trading range for the day is 94.99-95.91.

Rupee rose to an over one-week high, supported by a pullback in oil prices

India's foreign exchange reserves climbed to $716.9 billion, their highest levels in about six months as of the week to August 14.

India’s core sector growth slowed to 5.4% in July from 6% in June.

EURINR

SELL EURINR AUG @ 111.5 SL 111.8 TGT 111.2-111.

Observations

EURINR trading range for the day is 110.94-111.88.

Euro dropped on profit booking after investors braced for a more hawkish European Central Bank amid geopolitical tensions complicating its inflation battle.

The ECB is widely expected to raise interest rates in September, following its June tightening to curb inflation pressures triggered by the US-Iran conflict.

Germany’s economy expanded 0.3% in Q2 2026, revised up from 0.2% in the preliminary estimate but easing from 0.4% growth in the previous period.

GBPINR

SELL GBPINR AUG @ 130.2 SL 130.5 TGT 129.9-129.6.

Observations

GBPINR trading range for the day is 129.71-130.97.

GBP dropped amid Rupee firmness following the US Treasury’s unexpected plan to at least double its purchases of longer-dated government bonds.

UK inflation accelerating to 2.9% in July, the highest since March, while core inflation exceeded expectations at 2.6%.

In the UK, money markets continue to price in one Bank of England rate hike by year-end, with another quarter-point increase fully anticipated by early 2027.

JPYINR

SELL JPYINR AUG @ 60.3 SL 60.5 TGT 60-59.8.

Observations

JPYINR trading range for the day is 59.78-60.54.

JPY gains on safe-haven demand, with a US plan to cut Iran off from the global financial system.

Japanese FM Katayama said that the government will carefully examine potential tax incentives for retail investors in Japanese government bonds (JGBs).

Markets are currently pricing in around an 80% probability that the BOJ will raise rates by 25 basis points to 1.25% next month.