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USDINR

SELL USDINR AUG @ 87.15 SL 87.3 TGT 87-86.9.

Observations

USDINR trading range for the day is 86.79-87.15.

Rupee declined to its weakest level since mid-March, as demand for the greenback from state-run banks added to the pressure.

India's industrial production expanded by 1.5% from the previous year in June of 2025.

The spot-week USD/INR swap rate, for instance, was quoting at an implied rate of about 0.60 paisa per day.

EURINR

SELL EURINR JUL @ 101.6 SL 102 TGT 101.3-101.

Observations

EURINR trading range for the day is 100-101.5.

Euro gains reports that the EU and US are nearing a deal to impose 15% tariffs on select European imports while waiving duties on others.

The Spanish economy grew by 0.7% quarter-on-quarter in the three months to June 2025

In Europe, rate cut expectations also shifted, with markets postponing the likelihood of a 25 basis point cut to March 2026.

GBPINR

SELL GBPINR AUG @ 116.5 SL 116.8 TGT 116.2-116.

Observations

GBPINR trading range for the day is 115.89-116.37.

GBP dropped as weak UK data shifted market focus from inflation to slowing growth while trade optimism lifted the US currency.

UK net mortgage approvals for house purchases rose to 64,167 in June 2025, up from an upwardly revised 63,290 in May.

The CBI’s monthly gauge of UK retail sales rose to -34 in July 2025, up from June’s 17-month low of -46.

JPYINR

SELL JPYINR JUL @ 58.9 SL 59.1 TGT 58.7-58.5.

Observations

JPYINR trading range for the day is 58.43-58.65.

JPY dropped as dollar remained supported as recent global trade agreements are seen as disproportionately benefiting the US economy.

Japan’s leading economic index was revised down to 104.8 in May 2025 from a preliminary estimate of 105.3.

Meanwhile, political tensions continued to simmer, with growing calls for Prime Minister Shigeru Ishiba’s resignation.