Sell GBPINR DEC @ 120.1 SL 120.4 TGT 119.8-119.5 - Kedia Advisory
USDINR
SELL USDINR DEC @ 90.1 SL 90.3 TGT 89.9-89.7.
Observations
USDINR trading range for the day is 89.77-90.45.
Rupee closed modestly stronger, supported by dollar sales from exporters and modest foreign inflows
Fitch Ratings has boosted India's economic growth forecast for FY26 to 7.4 percent.
RBI Governor Sanjay Malhotra revised inflation projections for the current year lower to 2.0% from 2.6% anticipated earlier.
EURINR
SELL EURINR DEC @ 105 SL 105.3 TGT 104.7-104.5.
Observations
EURINR trading range for the day is 104.59-105.47.
Euro dropped as investors awaited an expected interest rate cut from Fed, even as the rates outlook for 2026 grows increasingly uncertain.
Germany’s trade surplus widened to €16.9 billion in October 2025, up from €15.3 billion in September.
German exports rose slightly in October, beating expectations for a decline thanks to EU trade.
GBPINR
SELL GBPINR DEC @ 120.1 SL 120.4 TGT 119.8-119.5.
Observations
GBPINR trading range for the day is 119.78-120.44.
GBP dropped as investors prepared for an action-packed week that, among other things, could bring a U.S. rate cut.
UK economic growth figures for October are due on Friday, forecasted for a rise of 1.4% from the same month last year.
Money markets show traders are placing a roughly 87% chance of the Bank of England cutting rates by a quarter point to 3.75% when it meets on December 18.
JPYINR
SELL JPYINR DEC @ 57.8 SL 58 TGT 57.6-57.4.
Observations
JPYINR trading range for the day is 57.67-58.07.
JPY seen under pressure following a magnitude-7.5 earthquake on Japan’s northeast coast, which briefly raised concerns about economic disruptions.
A downward revision to Japan’s Q3 GDP also weighed, supporting Prime Minister Takaichi’s large spending plans and complicating BOJ’s policy decision.
The central bank is expected to raise interest rates this month amid a gradual path to policy normalization.
