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USDINR

* USDINR trading range for the day is 82.98-83.8.

* Rupee strengthened aided by likely intervention from the central bank and an uptick in the offshore Chinese yuan.

* S&P ups India growth forecast to 6.8% for FY'25

* India's foreign exchange reserves reached an all-time high of $642.49 billion.

EURINR

* EURINR trading range for the day is 90.35-90.71.

* Euro dropped as dovish comments from a typically hawkish ECB policymaker boosted hopes that the bloc's central bank might start cutting rates soon.

*  The GfK Consumer Climate Indicator for Germany edged up to -27.4 heading into April 2024

* ECB’s Nagel said that the ECB might consider rate cuts before the summer break as inflation continues to fall towards the bank's 2% target

GBPINR

* GBPINR trading range for the day is 105.26-105.66.

* GBP steadied as Bank of England Governor Andrew Bailey hinted at potential interest rate cuts this year.

* The monthly retail sales balance in United Kingdom, climbed to +2 in March 2024

* The Fed’s projected three rate cuts in 2024 keep the USD on the defensive and lend support.

JPYINR

* JPYINR trading range for the day is 55.36-55.56.

* JPY dropped as the uncertainty over BoJ’s future policy steps holds back traders from placing aggressive bullish bets.

* BOJ indicated that financial conditions would remain accommodative and fell short of offering any guidance about the pace of policy normalization.

* Consumer inflation in Japan remains above the central bank's 2% target, which, along with the positive outcome of spring wage negotiations.

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