SELL GBPINR MAR @ 122.8 SL 123.1 TGT 122.5-122.3 - Kedia Advisory
USDINR
BUY USDINR MAR @ 92.4 SL 92.25 TGT 92.55-92.65.
Observations
USDINR trading range for the day is 92.24-92.64.
Rupee hits record low as investors fret energy supply risks.
India's retail inflation rose to 3.21% in February, driven by geopolitical tensions impacting global oil supplies.
India's services sector saw a slight slowdown in February, with new business growth at a 13-month low.
EURINR
SELL EURINR MAR @ 106.2 SL 106.5 TGT 105.9-105.7.
Observations
EURINR trading range for the day is 105.52-107.
Euro dropped as investors continued to navigate the war in the Middle East and volatility in oil markets.
Germany’s wholesale prices rose 1.2% year-on-year in February 2026, matching the pace recorded in the previous two months.
Money markets are now fully pricing in a ECB interest rate hike by July, with an 85% probability of a second increase by December.
GBPINR
SELL GBPINR MAR @ 122.8 SL 123.1 TGT 122.5-122.3.
Observations
GBPINR trading range for the day is 121.96-123.86.
GBP dropped as investors reacted to disappointing UK economic data and growing geopolitical tensions that strengthened the US dollar.
Britain's economy stagnated unexpectedly in January and expanded weakly in preceding months
Finance minister Rachel Reeves said it was too soon to say how soaring energy prices would affect Britain's economy.
JPYINR
SELL JPYINR MAR @ 58.25 SL 58.5 TGT 58-57.85.
Observations
JPYINR trading range for the day is 58.12-58.32.
JPY steadied amid raising concerns of possible intervention by authorities. Bank of Japan Governor Kazuo Ueda warned that a weak yen could intensify imported inflation amid rising oil prices. Japan’s Business Survey Index for large manufacturers fell to 3.8% in the first quarter of 2026 from 4.7% in Q4
