Sell GBPINR Dec @ 107.75 SL 108.05 TGT 107.4-107.1 - Kedia Advisory
USDINR
Observations
USDINR trading range for the day is 84.7-86.
Rupee weakened, hitting an all-time low as the Federal Reserve's scaling back of its rate cut projections for 2025 battered Asian currencies.
The Reserve Bank of India's (RBI) likely dollar-selling intervention helped the rupee fare better than most of its Asian peers
Indian economy to grow 6.6 pc in FY26: Ind-Ra
BUY USDINR DEC @ 85.15 SL 85.05 TGT 85.25-85.35.
EURINR
Observations
EURINR trading range for the day is 88.14-89.02.
Euro fell pressured by a general dollar strength after the Fed delivered a hawkish view for 2025.
Flash PMIs pointed to another, albeit slower, contraction in private sector activity with Germany and France continuing to underperform.
In Germany, the Chancellor lost a confidence vote in Parliament as expected and in France, the new government faces big challenges.
SELL EURINR DEC @ 88.7 SL 88.9 TGT 88.5-88.3.
GBPINR
Observations
GBPINR trading range for the day is 106.79-108.27.
GBP fell as hawkish signals from the Federal Reserve triggered a sharp rise for the US dollar.
The Bank of England hold the benchmark bank rate steady at 4.75% during its December 2024 meeting
Annual inflation rate in the UK rose for a second month to 2.6% in November as expected.
SELL GBPINR DEC @ 107.75 SL 108.05 TGT 107.4-107.1.
JPYINR
Observations
JPYINR trading range for the day is 54.34-56.34.
JPY fell after the Bank of Japan left its policy rate unchanged at 0.25%, as widely expected.
US Federal Reserve delivered a widely anticipated 25 basis point rate cut but signaled fewer rate reductions in 2025.
The BoJ adhered to its assessment that Japan's economy is on track for a moderate recovery, despite some areas of weakness.
SELL JPYINR DEC @ 55.1 SL 55.3 TGT 54.85-54.7.
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