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USDINR

SELL USDINR FEB @ 90.7 SL 90.9 TGT 90.5-90.4.

Observations

USDINR trading range for the day is 90.55-90.87.

Rupee slipped, retreating from recent gains as a broad risk-off sentiment and weakness across Asian currencies weighed.

India’s retail inflation under the new 2024 CPI base rose to 2.75% in January 2026, up from 1.33% in December.

India's economy is set for strong growth, projected at 6.4% by Moody's for fiscal 2026-27.

EURINR

SELL EURINR FEB @ 107.8 SL 108.1 TGT 107.5-107.3.

Observations

EURINR trading range for the day is 107.33-107.95.

Euro dropped as investors adopted a cautious stance ahead of key US inflation data that could shape expectations for the Fed’s next policy moves.

Germany’s wholesale prices rose 1.2% year-on-year in January 2026, matching the pace recorded in the previous month and marking the 14th consecutive increase.

ECB Lagarde said that the euro area’s inflation outlook is in a “good place,” while cautioning that policymakers should not react to volatile data in isolation.

GBPINR

SELL GBPINR FEB @ 123.8 SL 124.1 TGT 123.5-123.2.

Observations

GBPINR trading range for the day is 123.26-123.8.

GBP dropped as investors assessed weaker-than-expected UK growth figures.

The economy expanded by 0.1% in Q4 2025, matching the previous quarter’s pace but falling short of forecasts for 0.2%.

The disappointing figures capped a challenging year for the UK economy and added to political pressures facing Prime Minister Keir Starmer.

JPYINR

SELL JPYINR FEB @ 59.3 SL 59.5 TGT 59.1-58.9.

Observations

JPYINR trading range for the day is 58.8-59.66.

JPY steadied by expectations that PM Takaichi’s fiscal expansion plans will boost growth without straining public finances.

Takaichi’s decisive victory in the general election reduced political uncertainty and provided a clear mandate for increased spending and targeted tax cuts.

Atsushi Mimura noting that authorities remain on high alert over foreign exchange movements despite the currency’s recent rally.