Sell GBPINR Mar @ 111.6 SL 111.9 TGT 111.3-111 - Kedia Advisory
USDINR
BUY USDINR MAR @ 85.9 SL 85.75 TGT 86.05-86.2.
Observations
USDINR trading range for the day is 85.72-86.48.
Rupee posted its best day in more than a month on the back of dollar inflows and an unwinding of speculative long-dollar positions.
Strong macroeconomic fundamentals are likely to help India sustain its growth momentum even as the global economy faces uncertainty.
OECD has revised India's economic growth forecast for FY26 to 6.4% from 6.9% due to rising global uncertainty.
EURINR
SELL EURINR MAR @ 93.4 SL 93.6 TGT 93.1-92.9.
Observations
EURINR trading range for the day is 92.82-93.82.
Euro dropped as global economic and trade uncertainties continued to weigh on sentiment.
ECB's Centeno: trade war unlikely to spur inflation
ECB policymakers also signaled room for rate cuts this year, citing mounting risks from global trade tensions.
GBPINR
SELL GBPINR MAR @ 111.6 SL 111.9 TGT 111.3-111.
Observations
GBPINR trading range for the day is 110.9-112.02.
GBP dropped as the dollar extends recovery amid growing expectations that the Fed will not cut interest rates soon.
UK consumer morale inches up to three-month high in March
Public sector net borrowing, in the UK rose slightly to £10.7 billion in February 2025
JPYINR
SELL JPYINR MAR @ 57.85 SL 58.05 TGT 57.65-57.55.
Observations
JPYINR trading range for the day is 57.38-58.2.
JPY slipped amid strengthening dollar as concerns over global growth and trade tensions weighed.
Japan’s core inflation rate slowed to 3% in February from 3.2% in January but still exceeded forecasts of 2.9%.
The annual inflation rate in Japan fell to 3.7% in February 2025 from a 2-year high of 4.0% in the prior month
