SELL EURINR OCT @ 108.8 SL 109.1 TGT 108.5-108.2 - Kedia Advisory
USDINR
SELL USDINR OCT @ 97.1 SL 97.3 TGT 96.9-96.7.
Observations
USDINR trading range for the day is 96.35-97.51.
Rupee hovered near record lows, weighed by a firmer dollar, higher global bond yields, and continued foreign equity outflows.
Indian central bank raised its benchmark repo rate by 25 basis points to 5.5%, marking the first rise in nearly four years.
India has joined major central banks in raising rates as higher oil prices triggered by the Iran war fuel inflation, squeeze purchasing power and weigh on currencies.
EURINR
SELL EURINR OCT @ 108.8 SL 109.1 TGT 108.5-108.2.
Observations
EURINR trading range for the day is 108.26-109.34.
Euro dropped after pressure seen as concerns over France’s fiscal position weighed on sentiment.
Markets now price an 80% chance of another hike by year-end, compared with expectations for at least three additional moves by March 2027 previously.
Retail sales volumes in the Eurozone inched higher by 0.1% from the previous month in August of 2026, loosely aligned with market expectations of a 0.2% increase.
GBPINR
SELL GBPINR OCT @ 128.4 SL 128.7 TGT 128.1-127.8.
Observations
GBPINR trading range for the day is 127.58-129.04.
GBP gained amid Rupee weakness after elevated energy costs and persistent inflation concerns reinforced expectations for UK interest rates to remain higher for longer.
BoE policymaker Catherine Mann said that inflation above the Bank’s 2% target appeared to have become embedded in the economy.
The Lloyds House Price Index showed UK house prices were unchanged year-on-year in September 2026, following a 0.4% decline in August.
JPYINR
SELL JPYINR OCT @ 61.3 SL 61.5 TGT 61.1-60.9.
Observations
JPYINR trading range for the day is 60.93-61.61.
JPY weakened approaching two-week lows as the wide yield gap between the US and Japan continued to favor the dollar
Japan’s official reserve assets fell by USD 29.1 billion, to USD 1.178 trillion at the end of September 2026 from USD 1.208 trillion a month earlier.
Average cash earnings in Japan increased by 3.8% yoy in August 2026, slightly exceeding market expectations for a 3.7% gain.
