Sell GBPINR JAN @ 121.6 SL 121.9 TGT 121.3-121 - Kedia Advisory
USDINR
SELL USDINR JAN @ 90.1 SL 90.3 TGT 89.9-89.75.
Observations
USDINR trading range for the day is 89.45-90.65.
Rupee strengthened the Reserve Bank of India intervened strongly to push the currency back above the 90 marks.
India's economy is expected to grow 7.4% in the fiscal year ending in March, above the government's initial projection of 6.3%-6.8%.
Additional pressure stems from warnings of higher US tariffs on Indian goods linked to Russian oil purchases.
EURINR
SELL EURINR JAN @ 105.4 SL 105.7 TGT 105.1-104.8.
Observations
EURINR trading range for the day is 104.78-106.16.
Euro dropped as softer inflation in the Eurozone tempered expectations of an ECB rate hike by year-end.
Germany’s retail sales shrank 0.6% month-on-month in November 2025, missing market expectations for a 0.2% increase.
Inflation in Germany and France eased in December, supporting the European Central Bank’s stance to keep policy steady.
GBPINR
SELL GBPINR JAN @ 121.6 SL 121.9 TGT 121.3-121.
Observations
GBPINR trading range for the day is 120.81-122.55.
GBP dropped amid firmness in Rupee after investors focused on diverging interest-rate outlooks.
Investors expect the BoE to maintain a monetary easing approach amid weak job market conditions.
The annual pace of British consumer price inflation unexpectedly fell to 3.2% last month, from 3.6% in October.
JPYINR
SELL JPYINR JAN @ 57.8 SL 58 TGT 57.6-57.4.
Observations
JPYINR trading range for the day is 57.8-57.8.
JPY dropped on profit booking after amid growing expectations that BOJ will continue raising interest rates this year.
BOJ Governor Kazuo Ueda reiterated that the central bank will adjust rates as the economy and prices evolve in line with its forecasts.
Ueda also projected that the economy would sustain a virtuous cycle, with moderate, simultaneous increases in wages and prices.
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