SELL GBPINR JUN @ 128.9 SL 129.2 TGT 128.6-128.4. - Kedia Advisory
USDINR
SELL USDINR JUN @ 95.9 SL 96.1 TGT 95.7-95.5.
Observations
USDINR trading range for the day is 95.36-96.14.
Rupee weakened to a one-week low, amid stalled U.S.-Iran peace talks while a drop in local stocks worsened the strain on the currency.
India Services PMI was revised higher to 59.8 in May 2026 from the preliminary estimate of 58.9 and a final reading of 58.8 in April.
India’s Composite PMI rose to 59.3 in May 2026, surpassing the preliminary estimate of 58.1 and reaching its highest level since November.
EURINR
SELL EURINR JUN @ 111.5 SL 111.8 TGT 111.2-111.
Observations
EURINR trading range for the day is 111.03-111.77.
Euro steadied as investors assessed proposed US plans to impose broad new tariffs.
The USTR proposed tariffs of up to 12.5% on 60 trading partners, including the European Union, over alleged failures to ban goods made with forced labor.
ECB’s Isabel Schnabel cautioned that it’s premature to specify the number of rate hikes needed.
GBPINR
SELL GBPINR JUN @ 128.9 SL 129.2 TGT 128.6-128.4.
Observations
GBPINR trading range for the day is 128.48-129.26.
GBP edged higher as investors awaited clarity on Middle East peace efforts.
Investors are pricing in nearly two Bank of England interest rate hikes this year, with the first increase fully expected in September.
Policymakers face the dual challenge of addressing rising inflation while managing a labor market that is showing early signs of weakening.
JPYINR
SELL JPYINR JUN @ 60.1 SL 60.3 TGT 59.9-59.7.
Observations
JPYINR trading range for the day is 60.02-60.02.
JPY dropped as dollar strengthened as hostilities in the Gulf erupted anew and bolstered demand for the safe-haven U.S. currency.
Japanese FM Katayama said that authorities are poised to respond appropriately on foreign exchange, in a fresh warning.
Japan’s S&P Global Services PMI was at 50.0 in May 2026, marking its lowest level since March 2025.
