SELL GBPINR JUN @ 115.75 SL 116 TGT 115.45-115.25 - Kedia Advisory
USDINR
SELL USDINR JUN @ 85.45 SL 85.6 TGT 85.3-85.2
Observations
USDINR trading range for the day is 85.27-86.05.
Rupee steadied as the impact of month-end dollar demand from importers was offset by an uptick in regional peers.
Fiscal deficit of govt to ease by 20 to 30 bps to 4.2% of GDP by RBI's bumper dividend: SBI
India's forex reserves experienced a decrease of USD 4.888 billion, settling at USD 685.729 billion
EURINR
SELL EURINR JUN @ 97 SL 97.3 TGT 96.7-96.5.
Observations
EURINR trading range for the day is 96.78-97.42.
Euro dropped as investors remained cautious as they evaluated ongoing trade negotiations and the US fiscal outlook
Median inflation expectations in the Eurozone increased for a second consecutive month to 3.1% in April 2025
Germany’s seasonally adjusted unemployment rate held steady at 6.3% in May, the highest since September 2020 and matching forecasts.
GBPINR
SELL GBPINR JUN @ 115.75 SL 116 TGT 115.45-115.25.
Observations
GBPINR trading range for the day is 115-115.94.
GBP dropped as investors look for fresh cues about whether the BoE will cut interest rates again at its June policy meeting.
IMF has raised the UK GDP growth forecast for the current year to 1.2%, slightly higher than 1.1% anticipated earlier
The improvement in US-China trade relations has boosted US Consumer Confidence.
JPYINR
SELL JPYINR MAY @ 59.5 SL 59.7 TGT 59.3-59.1.
Observations
JPYINR trading range for the day is 59.11-59.61.
JPY weakened as investors digested recent comments from top policymakers and developments in the bond market.
BOJ’s Ueda warns sharp JGB yield moves may impact broader economy, rates.
Japan's cabinet approved an emergency plan to allocate JPY 388 billion from reserve funds.
