SELL JPYINR APR @ 60.75 SL 61 TGT 60.5-60.25. - Kedia Advisory
USDINR
BUY USDINR APR @ 85.12 SL 84.98 TGT 85.26-85.4.
USDINR trading range for the day is 85.01-85.31.
Rupee rises on foreign inflows, weaker dollar amid tariff concerns
Moody’s Ratings said the Indian economy could grow in the band of 5.5% to 6.5% during the calendar year 2025
Financial markets expect the Fed to resume rate cuts in June and that by year-end the policy rate
EURINR
SELL EURINR APR @ 98.25 SL 98.5 TGT 98-97.8.
Observations
EURINR trading range for the day is 97.44-98.88.
Euro rallied fueled by broad dollar weakness amid growing concerns over the Fed’s independence
Additional support came from expectations of increased defense spending, particularly in Germany.
The ECB cut its deposit rate by 25bps to 2.25% as anticipated, the lowest since early 2023.
GBPINR
SELL GBPINR APR @ 114.2 SL 114.5 TGT 113.9-113.6.
Observations
GBPINR trading range for the day is 113-114.78.
GBP rises as weaker dollar fuels recession fears under trump policies
The UK hopes to strike a deal with Trump after he imposed 10% tariffs on most imports of British goods to the US.
Fed's Powell said the US central bank remains in wait-and-see mode.
JPYINR
SELL JPYINR APR @ 60.75 SL 61 TGT 60.5-60.25.
Observations
JPYINR trading range for the day is 60.1-60.94.
JPY strengthened as the dollar weakened amid rising concerns over the Federal Reserve’s independence.
Bank of Japan Governor Kazuo Ueda said the central bank will keep raising interest rates if underlying inflation accelerates toward its 2% target, as it projects.
Market attention is turning to BOJ policy meeting, where the central bank is expected to keep the policy rate steady
