Sell GBPINR SEP @ 129.65 SL 130 TGT 129.2-128.8 - Kedia Advisory
USDINR
SELL USDINR SEP @ 95.4 SL 95.6 TGT 95.2-95.
Observations
USDINR trading range for the day is 94.91-95.83.
Rupee hit a nearly four-week high on support from inflows related to a stock index rejigand central bank intervention.
India's foreign exchange reserves climbed to a record high of $729.33 billion in the week to August 21.
Industrial production in India expanded by 6.7% from the previous year in July of 2026, slowing from the upwardly revised, over two-year high of 8.8% in June.
EURINR
SELL EURINR SEP @ 111 SL 111 TGT 110.7-110.4.
Observations
EURINR trading range for the day is 110.32-111.68.
Euro weakened as investors turned to dollar following hawkish remarks from Fed’s Warsh, despite European data pointing to renewed inflationary pressures.
Inflation data from France and Spain strengthened expectations for further ECB tightening.
Markets now see the ECB deposit rate rising to 2.80% by March next year from 2.25% currently, with roughly a 60% chance of a hike to 3%.
GBPINR
SELL GBPINR SEP @ 129.65 SL 130 TGT 129.2-128.8.
Observations
GBPINR trading range for the day is 129.19-130.25.
GBP fell as hawkish Fed remarks supported the US dollar, and expectations for the next BoE rate hike into 2027 from late 2026.
Markets pricing around 24 basis points of BoE tightening by December and 36 basis points by February 2027.
UK inflation rose to 2.9% in July, driven by higher household energy bills, and is expected to climb further toward year-end.
JPYINR
SELL JPYINR SEP @ 60 SL 60.2 TGT 59.8-59.6.
Observations
JPYINR trading range for the day is 59.87-60.25.
JPY dropped as dollar strengthened after Fed Chair Warsh remarks boosted expectations for a US rate hike in September.
Retail sales in Japan grew by 4% year-on-year in July 2026, accelerating from an upwardly revised 0.6% gain in the previous month.
Japan’s industrial production edged up 0.1% month-over-month in July 2026, extending gains for a fourth straight month
