Sell EURINR Mar @ 92.8 SL 93 TGT 92.5-92.3 - Kedia Advisory
USDINR
BUY USDINR MAR @ 85.6 SL 85.45 TGT 85.75-85.9.
Observations
USDINR trading range for the day is 84.96-86.2.
Rupee closed lower as importers stepped in to hedge liabilities at favourable levels, dollar inflows moderated.
S&P Global Ratings has lowered India's GDP growth forecast to 6.5% for the next fiscal year
Dollar-rupee forward premiums rose, with the 1-year implied yield touching a more than one-month high of 2.23%.
EURINR
SELL EURINR MAR @ 92.8 SL 93 TGT 92.5-92.3.
Observations
EURINR trading range for the day is 92.27-93.07.
Euro dropped amid ongoing uncertainty over US President Donald Trump’s tariff plans.
Eurozone private sector activity expanded at its fastest pace since August, though the growth fell short of market expectations.
ECB official Cipollone suggested that the case for a rate cut is strengthening, as inflation may be slowing faster than anticipated.
GBPINR
SELL GBPINR MAR @ 111.2 SL 111.5 TGT 110.9-110.7.
Observations
GBPINR trading range for the day is 110.36-111.44.
GBP settled flat as traders remained focused on US trade tariffs and monitored corporate news.
Upbeat preliminary US S&P Global PMI data for March has strengthened the US Dollar.
Investors will also focus on the UK CPI data for February, which will influence the BoE’s policy outlook.
JPYINR
SELL JPYINR MAR @ 57.2 SL 57.4 TGT 56.9-56.7.
Observations
JPYINR trading range for the day is 56.63-57.19.
JPY remained weak as the dollar strengthened on solid US economic data and President Trump selective approach to tariffs.
BOJ’s minutes showed that policymakers remain open to additional interest rate hikes, depending on wage growth and inflation trends.
BOJ raised its short-term policy target by a quarter point to 0.5%, its highest since the 2008 global financial crisis
