SELL GBPINR MAY @ 129.8 SL 130.2 TGT 129.4-129 - Kedia Advisory
USDINR
BUY USDINR MAY @ 96.6 SL 96.4 TGT 96.85-97.
Observations
USDINR trading range for the day is 96.13-97.95.
Rupee fell to a record low as a deadlock in U.S.-Iran peace talks kept oil prices elevated, fuelling worries of a global inflation surge.
Overseas investors have pulled out over $22 billion from local stocks and bonds since the war started, while Brent crude prices have surged over 50%.
Interest rate futures show that the odds of Fed rate hike have firmed, while swap markets in India are pricing in about 100 basis points of hikes over the next 12 months.
EURINR
SELL EURINR MAY @ 112.5 SL 112.8 TGT 112.2-111.9.
Observations
EURINR trading range for the day is 112.25-112.69.
Euro steadied pressured by surging global bond yields amid mounting concerns about an energy-driven inflation shock.
President Donald Trump warned that the US could resume strikes on Iran within “two or three days” if Tehran failed to agree to Washington’s peace terms.
Producer prices in Germany rose 1.7% year-on-year in April 2026, recovering from a 0.2% decline in March and marking the first increase since February last year.
GBPINR
SELL GBPINR MAY @ 129.8 SL 130.2 TGT 129.4-129.
Observations
GBPINR trading range for the day is 129.18-130.18.
GBP gained amid Rupee weakness after prices remained under pressure after British inflation fell more than expected in April
Factory gate prices for UK-manufactured goods increased 4.0% year-on-year in April 2026, more than market expectations of a 2.8% rise.
The UK’s annual core inflation rate eased to 2.5% in April 2026 from 3.1% in the prior month, slightly below market expectations of 2.6%.
JPYINR
SELL JPYINR MAY @ 60.9 SL 61.1 TGT 60.7-60.5.
Observations
JPYINR trading range for the day is 60.71-61.29.
JPY gains as strong GDP data reinforced expectations for a near-term rate hike from the Bank of Japan.
Several officials in Tokyo recently suggested there may be no limit to how frequently authorities could step into the foreign exchange market if needed.
The Reuters Tankan index for Japanese manufacturers edged up to 8.0 in May 2026 from 7.0 in April.
