GBPINR trading range for the day is 128.5-128.9 - Kedia Advisory
USDINR
BUY USDINR MAY @ 95.4 SL 95.2 TGT 95.6-95.8.
Observations
USDINR trading range for the day is 95.2-95.56.
Rupee dropped as renewed geopolitical tensions and stronger importer demand for dollars pressured the currency.
Rupee had earlier recovered from record lows of 96.96, supported by improved sentiment and dollar-selling intervention by the Reserve Bank of India.
Goldman Sachs raised its inflation forecast and now expects two more RBI rate hikes this year.
EURINR
BUY EURINR MAY @ 111.1 SL 110.8 TGT 111.4-111.7.
Observations
EURINR trading range for the day is 110.9-111.46.
Euro pressure seen as renewed Middle East unrest dampened market sentiment.
ECB’s Schnabel told the central bank should raise interest rates in June even if a peace agreement is reached.
Money markets now price in a near 90% chance of a June hike, with roughly 60 basis points of tightening expected by year-end.
GBPINR
BUY GBPINR MAY @ 128.6 SL 128.3 TGT 128.9-129.2.
Observations
GBPINR trading range for the day is 128.5-128.9.
GBP gains as weakness in Rupee supported after pressure seen as escalating US-Iran tensions reignited inflation concerns.
UK shop price inflation increased 1.2% year-on-year in May 2026, up from 1.0% in April, which had marked the softest growth in four months.
UK economic data revealed contractions in private sector activity during May, alongside cooling inflation and a softer labor market.
JPYINR
SELL JPYINR MAY @ 60.3 SL 60.5 TGT 60.1-59.9.
Observations
JPYINR trading range for the day is 59.74-60.56.
JPY steadied as fresh US military operations in southern Iran and ongoing peace negotiations kept investors cautious.
Japan’s core inflation rate slowed to a four-year low in April, easing pressure on the Bank of Japan to tighten monetary policy.
The central bank may continue to consider further rate hikes as the Japanese economy remains relatively resilient.
