Sell GBPINR MAY @ 129 SL 129.3 TGT 128.7-128.4 - Kedia Advisory
USDINR
SELL USDINR MAY @ 95.2 SL 95.5 TGT 94.9-94.7.
Observations
USDINR trading range for the day is 94.77-95.73.
Rupee fell as mounting external pressures continued to strain currency markets.
Traders stated that high oil costs and weak foreign inflows are reinforcing a persistent downward trend.
Projections now suggest a gap of around $40 billion to $50 billion for the current fiscal year, significantly wider than in recent years
EURINR
SELL EURINR MAY @ 111.6 SL 111.9 TGT 111.3-111.
Observations
EURINR trading range for the day is 110.86-112.36.
Euro gains as investors digested fresh economic data, including Eurozone preliminary GDP and inflation figures.
German inflation accelerates to 2.9% in April as energy costs soar
Germany’s retail sales dropped 2.0% month-over-month in March 2026, significantly missing market expectations for a milder 0.1% decline.
GBPINR
SELL GBPINR MAY @ 129 SL 129.3 TGT 128.7-128.4.
Observations
GBPINR trading range for the day is 127.99-129.39.
GBP gains after the Bank of England held its Bank Rate at 3.75% in an 8-1 vote, as expected.
The BoE described current rates as "reasonable" and reiterated it "stands ready to act as necessary" to steer CPI inflation toward its 2% medium-term target.
It also highlighted risks of second-round inflation effects and pledged to closely monitor the Middle East’s impact on global energy supply and prices.
JPYINR
SELL JPYINR MAY @ 60.8 SL 61.2 TGT 60.4-60.
Observations
JPYINR trading range for the day is 59.64-61.56.
JPY surged following stark warnings from Tokyo officials, including the finance minister, that intervention to prop up the currency could be imminent.
Japan’s industrial production fell 0.5% mm in March 2026, easing from a 2.0% drop in the previous month.
Retail sales in Japan increased 1.7% yoy in March 2026, recovering from a downwardly revised 0.1% drop in the previous month.
