SELL GBPINR AUG @ 119 SL 119.3 TGT 118.7-118.5 - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.7 SL 87.85 TGT 87.55-87.4.
Observations
USDINR trading range for the day is 86.69-87.57.
Rupee saw its biggest rise in over a month over optimism that U.S. may ease its stance on the additional 25% tariffs imposed.
Indian Pm Modi's planned cuts on GST is expected to support consumption and has lifted sentiment for the rupee.
India's economy needs to expand by about 8% annually over the next decade amid rising geopolitical uncertainties.
EURINR
SELL EURINR AUG @ 102.7 SL 103 TGT 102.4-102.1.
Observations
EURINR trading range for the day is 101.39-102.19.
Euro slipped ahead of a key meeting between Trump, Zelenskiy, and EU leaders on a potential Russia-Ukraine peace deal.
The Eurozone’s current account surplus narrowed to EUR 38.9 billion in June 2025 from EUR 51.9 billion a year earlier.
The ECB ended its easing cycle in July after eight cuts since 2022, though some still expect further action this year.
GBPINR
SELL GBPINR AUG @ 119 SL 119.3 TGT 118.7-118.5.
Observations
GBPINR trading range for the day is 117.1-118.5.
GBP dropped as dollar gains as traders pared bets on a rate cut at the Fed September 16-17 meeting.
Britain's economy slowed less than expected between April and June after a strong start to the year.
Goldman Sachs forecasts imply that core inflation in Britain edged down to 3.62% last month, from 3.66% in June.
JPYINR
SELL JPYINR AUG @ 59.9 SL 60.1 TGT 59.7-59.5.
Observations
JPYINR trading range for the day is 58.81-59.29.
JPY dropped as optimism grew over progress in negotiations to end the Ukraine war.
Japanese officials downplayed comments from US Treasury Secretary Bessent, who argued that the BOJ was “behind the curve” on policy in a move seen as pressure to raise rates.
BOJ Governor Ueda has continued to strike a cautious stance, emphasizing that “underlying inflation” remains below the bank’s 2% target.
