SELL GBPINR JUL @ 117.85 SL 118.15 TGT 117.45-117.2 - Kedia Advisory
USDINR
SELL USDINR JUL @ 86 SL 86.15 TGT 85.85-85.75.
Observations
USDINR trading range for the day is 85.51-86.35.
Rupee gains bolstered by broad weakness in the dollar on the back of concerns over the future independence of Fed.
ICRA has retained India's GDP growth forecast for FY26 at 6.2%, contingent on favorable monsoons and stable crude oil prices.
The Indian economy continues to show resilience amid global economic, trade, and geopolitical challenges, RBI bulletin
EURINR
SELL EURINR JUL @ 100.7 SL 101 TGT 100.4-100.1.
Observations
EURINR trading range for the day is 100.21-101.13.
Euro gains benefiting from a general dollar weakness, as traders continue to assess the situation in the Middle East.
Germany’s GfK Consumer Climate Indicator edged down to -20.3 heading into July 2025 from a marginally revised -20.0 in the previous month.
ECB Lagarde says current rate levels position ECB well for navigating uncertainty.
GBPINR
SELL GBPINR JUL @ 117.85 SL 118.15 TGT 117.45-117.2.
Observations
GBPINR trading range for the day is 117.37-118.31.
GBP gained as the US dollar weakened on expectations of Fed rate cuts and easing geopolitical tensions.
BoE Governor Andrew Bailey reinforced that rates are likely to fall, citing signs of slack in the labor market.
Deputy Governor Ramsden backs rate cut due to loosening labor market conditions
JPYINR
SELL JPYINR JUL @ 60 SL 60.2 TGT 59.7-59.5.
Observations
JPYINR trading range for the day is 59.35-60.19.
JPY gains as the US dollar weakened on expectations of Federal Reserve rate cuts and easing Middle East tensions.
Bank of Japan maintained its cautious tone, signaling that further rate hikes depend on meeting growth and inflation forecasts.
Japan’s leading economic index revised up to 104.2 in April 2025 from a preliminary estimate of 103.4.
