Sell JPYINR APR @ 58.8 SL 59 TGT 58.6-58.4 - Kedia Advisory
USDINR
SELL USDINR APR @ 85.7 SL 85.85 TGT 85.5-85.4
Observations
USDINR trading range for the day is 85.17-86.17.
Rupee closed modestly stronger as markets grappled with the impact of sweeping U.S. reciprocal tariffs
India is facing a relatively softer levy of 27% than regional peers such as China, Vietnam and Thailand.
The HSBC India Manufacturing PMI was adjusted upward to 58.1 in March 2025
EURINR
SELL EURINR APR @ 94.85 SL 95.1 TGT 94.6-94.4.
Observations
EURINR trading range for the day is 92.78-96.38.
Euro jumped even as U.S. President Donald Trump imposed 20% tariffs on all imports from the EU.
Eurozone inflation rate eased to 2.2% in March, the lowest level since November 2024.
European Commission President Leyen denounced U.S. President Trump’s new global tariffs as “a major blow to the world economy”.
GBPINR
SELL GBPINR APR @ 112.6 SL 112.9 TGT 112.3-112.
Observations
GBPINR trading range for the day is 111.19-113.69.
GBP rose after the Trump administration unveiled tariffs that overall came in better than many investors had feared.
The Trump administration’s tariffs came in at levels that investors found better than feared.
Steep import taxes are still being imposed on US consumers, and economic data will become increasingly important
JPYINR
SELL JPYINR APR @ 58.8 SL 59 TGT 58.6-58.4.
Observations
JPYINR trading range for the day is 57.63-59.23.
JPY appreciated as investors sought safe-haven assets after US President announced sweeping reciprocal tariffs.
BOJ Governor warned that the new US tariffs could significantly impact global trade and economic growth.
Japan’s Trade Minister Muto said that all options remain open in response to President Trump’s newly announced tariffs.
