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USDINR

Observations

USDINR trading range for the day is 84.51-84.67.

Rupee was little changed as likely intervention by the Reserve Bank of India supported the currency.

Dollar-rupee far forward premiums rose, aided by the decline U.S. bond yields

The central bank has frequently intervened in recent sessions to support the rupee near the psychologically important support level of 84.50.

SELL USDINR DEC @ 84.65 SL 84.75 TGT 84.55-84.45.

EURINR

Observations

EURINR trading range for the day is 89.17-89.73.

Euro gains following hawkish remarks from a central bank policymaker.

ECB’s Schnabel warned that borrowing costs are nearing neutral levels, and over-easing could waste policy options

ECB's Lagarde says trade war in 'nobody's interest'

SELL EURINR DEC @ 89.5 SL 89.7 TGT 89.3-89.1.

GBPINR

Observations

GBPINR trading range for the day is 106.88-107.4.

GBP steadied as the US dollar weakened following a key inflation reading that met expectations.

UK economic growth may lag expectations in 2025

UK services sector sentiment falls at fastest pace in two years, CBI says

BUY GBPINR DEC @ 107.15 SL 106.85 TGT 107.45-107.65.

JPYINR

Observations

JPYINR trading range for the day is 55.58-56.92.

JPY steadied on growing bets Japan could hike interest rates in December.

BOJ Governor Kazuo Ueda recently indicated the possibility of a rate hike in December, citing concerns over the yen’s weakness.

Rates pricing implies about a 60% chance of a 25-basis point rate hike in Japan next month, up from around 50% a week ago.

BUY JPYINR DEC @ 56 SL 55.8 TGT 56.2-56.4.