Sell EURINR Sep @ 103.4 SL 103.6 TGT 103.1-102.9 - Kedia Advisory
USDINR
SELL USDINR SEP @ 88.4 SL 88.55 TGT 88.25-88.15.
Observations
USDINR trading range for the day is 87.53-88.81.
Rupee tumbled to an all-time low weighed down by persistent concerns over steep U.S. tariffs on Indian goods.
The Indian economy remains resilient, supported by strong rural demand, the RBI said.
The RBI projects full-year growth to remain close to 6.5%, with Governor Sanjay Malhotra stating that the impact of higher tariffs is expected to be minimal.
EURINR
SELL EURINR SEP @ 103.4 SL 103.6 TGT 103.1-102.9.
Observations
EURINR trading range for the day is 102.09-104.03.
Euro gains as markets continued to assess the outlook on global rates and the health of the European economy.
Germany’s import prices fell by 1.4% yoy in July 2025, matching the decline seen in June and slightly exceeding market expectations.
Germany’s retail sales shrank 1.5% month-over-month in July 2025, reversing a 1.0% gain in the previous month.
GBPINR
SELL GBPINR SEP @ 119.3 SL 119.6 TGT 119-118.7.
Observations
GBPINR trading range for the day is 118.24-119.48.
GBP gains after a survey showed UK businesses experiencing their strongest month in a year, driven by a rebound in the services sector.
BoE Governor Andrew Bailey has said the current system is essential to transmit changes in the BoE's official interest rate through to the wider economy.
Money markets now see less than a 50% chance of a rate cut before end-2025, with only about a 36% probability of a quarter-point reduction this year.
JPYINR
SELL JPYINR SEP @ 60.2 SL 60.4 TGT 60-59.8.
Observations
JPYINR trading range for the day is 59.57-60.59.
JPY dropped on profit booking as investors digested a series of economic reports.
BOJ’s Nakagawa said that uncertainties remain high over U.S. tariff policies and their impact on the Japanese and global economy.
BOJ kept interest rates unchanged but raised inflation forecasts and struck a more optimistic tone on the economy.
