Sell GBPINR Jan @ 107.1 SL 107.4 TGT 106.8-106.5 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 85.86-86.04.
Rupee ended at a record closing low, pressured by a decline in the Chinese yuan, and due to the relentless rise in dollar.
RBI likely dollar sales have prevented the rupee's decline below its record low of 85.8075 hit.
India's fiscal deficit narrowed to INR 8.466 trillion in April-November 2024-25
BUY USDINR JAN @ 85.9 SL 85.8 TGT 86-86.1.
EURINR
Observations
EURINR trading range for the day is 88.24-88.74.
Euro fell due to concerns about Europe’s economic prospects and optimism around the US economy
Trump’s potential trade tariffs heighten risks of a trade war, further clouding Europe’s outlook.
A dovish stance by the European Central Bank has reduced support for the euro
SELL EURINR JAN @ 88.9 SL 89.1 TGT 88.6-88.4.
GBPINR
Observations
GBPINR trading range for the day is 106.21-107.27.
GBP dropped weighed down by concerns over the UK’s economic resilience and a stronger US dollar.
UK economy has stagnated, with revised Q3 figures showing no growth, adding to challenges for Prime Minister Keir Starmer’s new government.
The pound’s weakness also reflects worries about trade tensions, as Trump’s proposed tariffs could disrupt UK trade.
SELL GBPINR JAN @ 107.1 SL 107.4 TGT 106.8-106.5.
JPYINR
Observations
JPYINR trading range for the day is 54.49-55.07.
JPY remained in range as investors continued to digest the Bank of Japan’s interest rate outlook
Minutes from the BoJ's December meeting revealed that policymakers had debated the possibility of a near-term rate hike
Finance Minister Katsunobu Kato reiterated concerns about the weakening yen and warned against excessive currency fluctuations.
SELL JPYINR JAN @ 54.8 SL 55 TGT 54.6-54.4.
