SELL GBPINR AUG @ 116.2 SL 116.5 TGT 115.9-115.6. - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.8 SL 87.95 TGT 87.6-87.5.
Observations
USDINR trading range for the day is 87.49-88.01.
Rupee sliding toward an all-time low after Trump said he would impose a 25% tariff on Indian goods, starting August 1.
He also warned of higher penalties on certain industries due to India's ongoing trade with Russian oil firms.
Adding pressure, inflation fell to a six-year low of 2.1%, reinforcing expectations of further RBI rate cuts.
EURINR
SELL EURINR AUG @ 100.6 SL 100.9 TGT 100.3-100.
Observations
EURINR trading range for the day is 99.78-101.8.
Euro decline under pressure from a stronger dollar, as traders reacted to the Fed’s latest policy decision.
Eurozone economy grew a modest 0.1% in Q2, slowing sharply from 0.6% in Q1 but still exceeding expectations of no growth.
GDP in Germany and Italy contracting by 0.1%, while France and Spain recorded expansions.
GBPINR
SELL GBPINR AUG @ 116.2 SL 116.5 TGT 115.9-115.6.
Observations
GBPINR trading range for the day is 115.49-117.17.
GBP dropped as dollar gains after Fed held rates steady and stuck to its stubborn wait-and-see stance.
Pressure also seen 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 63,288 in May
JPYINR
SELL JPYINR AUG @ 59 SL 59.2 TGT 58.7-58.5
Observations
JPYINR trading range for the day is 58.74-59.52.
JPY dropped after The Bank of Japan held steady its benchmark short-term rate at 0.5%.
Retail sales in Japan climbed by 2.0% YoY in June 2025, accelerating slightly from a downwardly revised 1.9% rise in the previous month.
Japan’s industrial production rose 1.7% month-over-month in June 2025, sharply beating market expectations of a 0.6% decline.
