Sell GBPINR Dec @ 120.3 SL 120.6 TGT 120-119.7 - Kedia Advisory
USDINR
SELL USDINR DEC @ 90.35 SL 90.55 TGT 90.15-90.
Observations
USDINR trading range for the day is 90.02-90.56.
Rupee dropped due to the continuous outflow of foreign funds, and a dovish monetary policy announcement by RBI.
RBI Governor Malhotra stated the central bank does not target specific levels for the rupee, allowing market forces to dictate its value.
RBI’s MPC has raised India’s GDP growth forecast for FY2025-26 to 7.3%, up from 6.8%, following stronger-than-expected economic performance.
EURINR
SELL EURINR DEC @ 105.3 SL 105.6 TGT 105-104.8.
Observations
EURINR trading range for the day is 105.02-105.64.
Euro gains as traders absorbed comments from ECB’s Schnabel while awaiting a widely expected Federal Reserve rate cut.
French economy likely to grow at least 0.8% in 2025, Finance Minister says
Germany’s industrial production rose 1.8% month-on-month in October, accelerating from a downwardly revised 1.1% increase in the previous month.
GBPINR
SELL GBPINR DEC @ 120.3 SL 120.6 TGT 120-119.7.
Observations
GBPINR trading range for the day is 119.89-120.77.
GBP rose as investors anticipate an almost certain rate cut from the Fed.
UK jobs market slowed again in November before budget
The OECD projects that the BoE will lower rates twice more to 3.5% by June before pausing its easing cycle.
JPYINR
SELL JPYINR DEC @ 58.25 SL 58.5 TGT 58-57.75.
Observations
JPYINR trading range for the day is 58.19-58.25.
JPY gains amid growing speculation that boj could raise interest rates next week following hawkish signals from policymakers.
Japan’s economy shrank 2.3% annualized in Q3 2025, steeper than the initial estimate of a 1.8% drop.
Japan’s GDP contracted 0.6% qoq in Q3 2025, deeper than the flash estimate of a 0.4% decline.
