Sell GBPINR SEP @ 129.6 SL 129.9 TGT 129.3-129 - Kedia Advisory
USDINR
BUY USDINR SEP @ 95.45 SL 95.25 TGT 95.65-95.8.
Observations
USDINR trading range for the day is 95.09-95.77.
Rupee declined as oil prices continued to march higher on worries over the escalating conflict in the Middle East.
State-run banks were spotted selling dollars, most likely on behalf of RBI, while noting that the scale of such dollar sales had mellowed.
Forward premiums soared, with the one-year annualised implied rate up almost 30 basis points over two days and last at 3.37%, the highest since late May.
EURINR
SELL EURINR SEP @ 111.25 SL 111.55 TGT 110.9-110.6.
Observations
EURINR trading range for the day is 110.86-111.44.
Euro gained before the European Central Bank's meeting as traders priced in two interest rate hikes in 2026 and a 3.1% rate by late 2027.
The ECB raised its key interest rates by 25 basis points at its September 2026 meeting, as widely expected.
Germany's annual inflation rate accelerated to 2.9% in August 2026, confirming preliminary estimates, up from 2.8% in July.
GBPINR
SELL GBPINR SEP @ 129.6 SL 129.9 TGT 129.3-129.
Observations
GBPINR trading range for the day is 129.08-129.74.
GBP gained as renewed inflation concerns reinforced expectations for further Bank of England rate hikes.
British retail sales growth slowed to a four-month low in August as a surge driven by record-hot weather earlier in the summer faded.
The RICS UK Residential Market Survey showed that the house price balance improved to -28% in August 2026 from an upwardly revised -29% in July
JPYINR
SELL JPYINR SEP @ 62 SL 62.2 TGT 61.8-61.6.
Observations
JPYINR trading range for the day is 61.29-62.23. JPY dropped on profit booking ahead of an expected Bank of Japan rate hike next week.
The BOJ aims to address the risk of inflation exceeding expectations amid rising crude oil prices and continued yen weakness.
BOJ’s Masu said the central bank will continue raising its policy rate and adjust monetary accommodation as underlying inflation nears 2%.
