Sell GBPINR Feb @ 109.7 SL 110 TGT 109.4-109.2 - Kedia Advisory
USDINR
BUY USDINR FEB @ 86.9 SL 86.75 TGT 87.05-87.15.
Observations
USDINR trading range for the day is 86.91-87.09.
Rupee settled weaker pressured by dollar demand spurred by the maturity of positions in the non-deliverable forwards (NDF) market.
Likely dollar-selling intervention by the Reserve Bank of India helped limit losses in the local unit
Foreign investors have net sold about $12 billion of local stocks so far in 2025, exerting pressure on the rupee.
EURINR
SELL EURINR FEB @ 91.1 SL 91.3 TGT 90.9-90.7.
Observations
GBPINR
SELL GBPINR FEB @ 109.7 SL 110 TGT 109.4-109.2.
Observations
GBPINR trading range for the day is 109.24-110.02.
GBP rebounds after upbeat UK employment, strong wage growth data
The United Kingdom’s unemployment rate held steady at 4.4% from October to December 2024
Bank of England's Bailey says inflation is slowing, 2025 jump will not last
JPYINR
BUY JPYINR FEB @ 57.5 SL 57.3 TGT 57.75-57.95.
Observations
JPYINR trading range for the day is 57.37-57.89.
JPY settled flat as the dollar gained ground following comments from US Federal Reserve officials.
In Japan, data revealed the economy grew by 0.7% quarter-on-quarter in the fourth quarter.
While there is still uncertainty over whether the BOJ will raise interest rates again in March.
