Sell GBPINR Mar @ 112.3 SL 112.6 TGT 112-111.8 - Kedia Advisory
USDINR
SELL USDINR MAR @ 86.55 SL 86.7 TGT 86.4-86.3.
Observations
USDINR trading range for the day is 86.22-86.84.
Rupee strengthened supported by dollar sales from foreign banks and seasonal inflows
Fitch Ratings projects India's GDP growth at 6.5% for FY25-26 and 6.3% for FY26-27
RBI's foreign exchange reserves surged $15 billion to $653.9 billion??????
EURINR
SELL EURINR MAR @ 94.4 SL 94.6 TGT 94.2-94.
Observations
EURINR trading range for the day is 93.72-95.22.
Euro dropped as investors weighed Germany’s historic constitutional amendment vote, ongoing tariff concerns, and key monetary policy updates.
Germany’s parliament agreed on major debt reforms to boost spending on defense and infrastructure, approving a package of over €500 billion
Euro Area's consumer price inflation rate eased to 2.3% in February 2025.
GBPINR
SELL GBPINR MAR @ 112.3 SL 112.6 TGT 112-111.8.
Observations
GBPINR trading range for the day is 111.58-112.92.
GBP lost ground after data showed British economic output contracted unexpectedly in January compared with December.
Market sentiment remains cautious as US President Trump is poised to impose reciprocal tariffs on April 2.
The BoE is expected to keep interest rates steady at 4.5%, with a 7-2 vote split.
JPYINR
BUY JPYINR MAR @ 57.6 SL 57.4 TGT 57.9-58.1.
JPYINR trading range for the day is 57.5-58.26.
JPY settled flat driven by risk aversion amid heightened geopolitical tensions and tariff uncertainty.
BOJ kept its key short-term interest rate at around 0.5% during its March meeting, maintaining it at its highest level since 2008
Japan’s core machinery orders, fell 3.5% month-on-month to 857.9 billion yen in January 2025
