Sell GBPINR SEP @ 127.4 SL 127.7 TGT 127.1-126.8 - Kedia Advisory
USDINR
SELL USDINR SEP @ 95.8 SL 96 TGT 95.6-95.4.
Observations
USDINR trading range for the day is 95.48-95.9.
Rupee dropped, as the prospect of interest rate hikes by the Fed in the near term lifted the dollar index to its highest level since late July.
India's Manufacturing PMI rose to 55.7 in September 2026 from 52.8 in August, marking the strongest improvement in the sector's health since February.
India Services PMI increased to 58.1 in September 2026 from a final 54.1 in the previous month, preliminary data showed.
EURINR
SELL EURINR SEP @ 109.5 SL 109.8 TGT 109.2-109.
Observations
EURINR trading range for the day is 109.09-109.87.
Euro dropped as falling oil prices prompted traders to scale back expectations for further ECB rate hikes, while the US dollar remained supported.
Germany Manufacturing PMI fell to 53.8 in September 2026, down from a more than four-year high of 54.3 in August.
Germany Composite PMI rose to 53.8 in September 2026 from 51.8 in August and well above market expectations of 51.8.
GBPINR
SELL GBPINR SEP @ 127.4 SL 127.7 TGT 127.1-126.8.
Observations
GBPINR trading range for the day is 126.82-128.02.
GBP dropped as investors assessed the latest developments in the Middle East alongside weaker-than-expected UK public finances.
UK Manufacturing PMI rose to 52.0 in September 2026, up slightly from 51.7 in August and above the market expectation of 51.5.
UK Services PMI fell to 51.7 in September 2026 from 52.5 in August, below market forecasts of 52.
JPYINR
SELL JPYINR SEP @ 60.8 SL 61 TGT 60.6-60.4.
Observations
JPYINR trading range for the day is 60.6-60.62.
JPY steadied as traders remain wary of the threat of intervention as markets judged the BOJ’s rate hike to a 31-year high as insufficiently hawkish.
Dollar near its strongest level in two months on prospects of interest rate hikes in the near term.
Investors are now anticipating further tightening from central banks, with Fed officials flagging the possibility of more hikes if inflation does not ease.
