SELL GBPINR AUG @ 129.8 SL 130.1 TGT 129.5-129.2 - Kedia Advisory
USDINR
BUY USDINR AUG @ 95.5 SL 95.3 TGT 95-95.9.
Observations
USDINR trading range for the day is 95.02-95.96.
Rupee weakened as RBI unexpectedly shortened the deadline for its discounted forex swap facility for non-resident deposits, raising concerns over future dollar inflows.
RBI brought forward the cutoff for the zero-cost hedging facility for FCNR(B) deposits to August 31 from September 30.
RBI continued selling dollars through state-run banks, while stronger foreign-exchange reserves, rose to a four-month high of $707 billion
EURINR
SELL EURINR AUG @ 111 SL 111.3 TGT 110.7-110.5.
Observations
EURINR trading range for the day is 110.36-111.38.
Euro gains as weak US data further tempered bets for an immediate rate hike by the Federal Reserve.
Euro draws support from growing acceptance that ECB will deliver one final 25 bps rate hike at its September meeting as inflation remains above the 2% target.
Euro Area economic outlook has improved, with recent resilience prompting analysts to become more optimistic about growth.
GBPINR
SELL GBPINR AUG @ 129.8 SL 130.1 TGT 129.5-129.2.
Observations
GBPINR trading range for the day is 129.13-130.09.
GBP gains as soft US economic data reduced expectations for an imminent Federal Reserve interest rate hike, supporting global risk sentiment
Investors, remain worried that volatile energy prices could complicate the inflation outlook and force the Fed to stick to a hawkish stance.
Treasury Secretary Scott Bessent said that the US is preparing to hit Iran with economic measures that have never been seen, as soon as this week.
JPYINR
SELL JPYINR AUG @ 60.25 SL 60.5 TGT 60-59.8.
Observations
JPYINR trading range for the day is 60.01-60.41.
JPY gains amid Rupee weakness largely shrugging off weaker-than-expected Japanese GDP data
Japan’s economy expanded at an annualized rate of 1.1% in Q2 2026, easing from a marginally revised 1.9% growth in the previous quarter.
Japan’s GDP grew 0.3% quarter-on-quarter in Q2 2026, slowing from Q1’s pace and falling short of market expectations for 0.5%.
