Sell GBPINR Jan @ 107.8 SL 108.1 TGT 107.5-107.3 - Kedia Advisory
USDINR
Observations
USDINR trading range for the day is 86.16-86.54.
Rupee ended lower amid concerns over U.S. President Donald Trump's trade tariffs and likely equity outflows.
India's business growth slowed to a 14-month low in January, with concerns about sustaining economic performance
India's foreign exchange reserves decreased by $1.8 billion
BUY USDINR JAN @ 86.3 SL 86.2 TGT 86.4-86.5.
EURINR
Observations
EURINR trading range for the day is 90.19-91.07.
Euro steadied as investors prepared for a series of central bank meetings this week.
Forecasts suggest the European Central Bank is poised to cut rates by 25 basis points on Thursday.
ECB president warns over loss of central bank independence
SELL EURINR JAN @ 90.75 SL 91 TGT 90.5-90.3.
GBPINR
Observations
GBPINR trading range for the day is 107.12-108.22.
GBP remained supported after data showed the UK economy performed better than expected in January.
The Services PMI rose slightly, and the Manufacturing PMI also improved, both surpassing forecasts.
New orders in business declined sharply, and employment dropped for the fourth straight month due to rising costs.
SELL GBPINR JAN @ 107.8 SL 108.1 TGT 107.5-107.3.
JPYINR
Observations
JPYINR trading range for the day is 55.01-56.85.
JPY gains after hawkish signals from the Bank of Japan.
The BOJ raised interest rates by 25 basis points to 0.5%, marking the highest short-term borrowing costs in 16 years.
The central bank also forecasted that inflation would reach its 2% target in the second half of its forecast period.
SELL JPYINR JAN @ 56.25 SL 56.45 TGT 56.05-55.85.
