SELL JPYINR AUG @ 59.7 SL 59.9 TGT 59.5-59.3. - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.6 SL 87.75 TGT 87.45-87.35.
Observations
USDINR trading range for the day is 87.19-88.03.
Rupee gained, defying pressure from additional U.S. tariffs as expectations of central bank intervention.
The US has doubled tariffs on Indian imports to 50%, penalizing India for its ongoing purchases of Russian oil.
India’s foreign exchange reserves fell by more than $9 billion last week
EURINR
SELL EURINR AUG @ 102.3 SL 102.6 TGT 102-101.
Observations
EURINR trading range for the day is 101.69-102.95.
Euro gained as markets anticipate easing from both Fed and ECB, with the Fed expected to ease faster x aggressively.
Germany’s industrial production fell by 1.9% month-over-month in June 2025, following a revised 0.1% decline in May.
Germany's exports rose by 0.8% month-on-month to EUR 130.5 billion in June 2025.
GBPINR
SELL GBPINR AUG @ 117.7 SL 118 TGT 117.4-117.1.
Observations
GBPINR trading range for the day is 116.78-117.98.
GBP gains as the Dollar demonstrates weakness following dovish interest rate guidance from a string of Fed officials.
The Bank of England cut interest rates by 25 bps to 4%, the lowest since March 2023
FM Reeves is expected to raise taxes again in a budget statement towards the end of 2025 in order to meet her own targets for fixing the public finances.
JPYINR
SELL JPYINR AUG @ 59.7 SL 59.9 TGT 59.5-59.3.
Observations
JPYINR trading range for the day is 59.28-60.08.
JPY gains after the Bank of Japan’s monetary policy stance.
Japan’s foreign reserves decreased by $9.35 billion to $1.30 trillion in July 2025, easing from a three-year high of $1.314 trillion in June.
Real wages in Japan declined for the sixth consecutive month in June, with inflation continuing to outpace earnings growth
