Sell GBPINR Mar @ 110.5 SL 110.8 TGT 110.2-110 - Kedia Advisory
USDINR
SELL USDINR MAR @ 87.45 SL 87.55 TGT 87.35-87.25.
Observations
USDINR trading range for the day is 86.83-87.69.
Rupee logged its worst day in three weeks weighed by importer hedging and dollar demand.
U.S. President Donald Trump restricted Chinese investments in strategic areas and said Canada and Mexico tariffs will start next week.
Retail inflation for farm and rural workers slightly decreased in January 2025
EURINR
SELL EURINR MAR @ 91.7 SL 91.9 TGT 91.5-91.3.
Observations
EURINR trading range for the day is 91.03-91.91.
Euro strengthens as conservatives win German election
Data showed that Eurozone private sector activity held steady in February, with the PMI holding steady at 50.2
Eurozone Services PMI fell to 50.7 in February 2025, the lowest in three months, down from 51.3 in January
GBPINR
SELL GBPINR MAR @ 110.5 SL 110.8 TGT 110.2-110.
Observations
GBPINR trading range for the day is 109.62-110.66.
GBP gains as recent data reinforced the expectation BOE will maintain a cautious approach to rate cuts.
The annual inflation rate unexpectedly rose to 3% last month, the highest in ten months, exceeding forecasts of 2.8%.
Services inflation climbed to 5%, slightly below the Bank of England's projection of 5.2%.
JPYINR
SELL JPYINR FEB @ 58.25 SL 58.45 TGT 58.05-57.9.
Observations
JPYINR trading range for the day is 57.59-59.29.
JPY dropped as dollar strengthened after President Donald Trump announced that tariffs on Canada and Mexico "will go forward".
BOJ officials also signaled their intention to adjust policy if economic conditions continue to evolve as anticipated.
Data showed core inflation in Japan rose to 3.2% in January, up from 3% in December, exceeding forecasts of 3.1%.
