SELL EURINR AUG @ 102.3 SL 102.6 TGT 102-101. - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.75 SL 87.9 TGT 87.6-87.5.
Observations
USDINR trading range for the day is 87.43-87.97.
Rupee dropped as the market experts have warned that trade tensions between the US and India could hit Indian exports significantly.
India's foreign exchange reserves experienced a significant $9.3 billion drop, 2025, marking the sharpest decline of the year.
US President Trump's 25% tariff hike on Indian imports, totaling 50%, threatens India's FY26 GDP growth by up to 0.4%.
EURINR
SELL EURINR AUG @ 102.3 SL 102.6 TGT 102-101.
Observations
EURINR trading range for the day is 102.04-102.6.
Euro steadied as investors brace for trade and geopolitical risks.
Euro zone retail sales grew quicker than thought in June, data showed.
Business activity in the euro zone grew at a slightly faster pace in July than in June but remained sluggish as demand dipped.
GBPINR
SELL GBPINR AUG @ 118 SL 118.3 TGT 117.7-117.5.
Observations
GBPINR trading range for the day is 117.72-118.38.
GBP strengthened as expectations of Fed rate cuts weigh on the dollar.
Governor Bailey added that “interest rates are still on a downward path, but any future cuts will need to be made gradually and carefully”.
Traders have trimmed expectations supporting further interest rate cuts by the Bank of England (BoE) in the remainder of the year.
JPYINR
SELL JPYINR AUG @ 59.5 SL 59.7 TGT 59.3-59.1.
JPYINR trading range for the day is 59.32-60.1.
JPY gained as investors continued to assess the outlook for Bank of Japan monetary policy.
Minutes showed that board members maintained their view that further interest rate increases remain appropriate, despite heightened uncertainty surrounding tariffs.
Investors are awaiting key Japanese economic indicators for further guidance, including second quarter GDP.
