BUY USDINR MAR @ 91.8 SL 91.65 TGT 92-92.2 - Kedia Advisory
USDINR
BUY USDINR MAR @ 91.8 SL 91.65 TGT 92-92.2.
Observations
USDINR trading range for the day is 91.63-91.99.
Rupee fell as the U.S.-Israel war on Iran sparked a surge in oil prices, jolting global markets and sparking a dash for safe-haven assets.
India's services sector saw a slight slowdown in February, with new business growth at a 13-month low.
India's current account deficit widened to $13.2 billion in Q3, primarily due to a larger merchandise trade deficit.
EURINR
SELL EURINR MAR @ 106.6 SL 106.9 TGT 106.3-106.
Observations
EURINR trading range for the day is 106.29-106.91.
Euro steadied as investors weighed the escalating Middle East conflict and rising inflation risks.
Several policymakers warned that if the war in Iran drags on and draws in additional countries, eurozone inflation could rise while economic growth weakens.
Money markets currently assign about a 60% probability of an ECB rate hike in December and a 90% chance of an increase by June 2027.
GBPINR
SELL GBPINR MAR @ 122.9 SL 123.2 TGT 122.6-122.4.
Observations
GBPINR trading range for the day is 122.46-122.96.
GBP steadied weighed the potential impact of the escalating Middle East conflict alongside rising inflation pressures.
UK money markets now assign less than a 20% chance of a rate cut this month, down sharply from over 80% before the conflict.
UK rate futures price less than a 50–50 chance of a single cut by the end of 2026.
JPYINR
SELL JPYINR MAR @ 58.7 SL 58.9 TGT 58.5-58.3.
Observations
JPYINR trading range for the day is 58.13-58.93.
JPY dropped pressured by the dollar’s strength as investors sought the reserve currency amid the escalating Middle East conflict.
JPY also faced headwinds from soaring oil prices, reflecting Japan’s heavy reliance on Middle East energy imports.
Japan’s foreign reserves climbed $15.95 billion to $1.41 trillion in February 2026, marking the highest level since December 2021.
