SELL JPYINR AUG @ 59.9 SL 60.1 TGT 59.7-59.5 - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.7 SL 87.85 TGT 87.55-87.4.
Observations
USDINR trading range for the day is 87.22-87.66.
Rupee gains sharply on backdrop of Indian PM Modi’s promise to reform GST structure.
India's foreign exchange reserves rose to $693.62 billion as of Aug 8, compared with $688.87 billion a week earlier
RBI unlikely to cut interest rates in October due to expected inflation rise in August 2025, potentially delaying any rate cut until December.
EURINR
SELL EURINR AUG @ 102.7 SL 103 TGT 102.4-102.1.
Observations
EURINR trading range for the day is 101.81-102.73.
Euro dropped as traders weighed economic, political, and monetary prospects.
ECB ended its current easing cycle in July after eight cuts over the past year, which brought borrowing costs to their lowest since November 2022.
Euro area GDP grew 0.1% in Q2, while inflation held steady at 2% in July.
GBPINR
SELL GBPINR AUG @ 119 SL 119.3 TGT 118.7-118.5.
Observations
GBPINR trading range for the day is 117.87-119.29.
GBP dropped with investor sentiment cautious ahead of meeting between EU leaders, Zelensky, and Trump to address the ongoing Ukraine conflict.
Signs of price pressures remaining persistent would allow the BoE to remain committed to its “gradual and careful” monetary expansion guidance.
The economy grew 0.3% in Q2 versus expectations of 0.1%, with annual growth at 1.2%. June GDP also surprised on the upside.
JPYINR
SELL JPYINR AUG @ 59.9 SL 60.1 TGT 59.7-59.5.
Observations
JPYINR trading range for the day is 59.29-59.67.
JPY dropped ahead of a key meeting in Washington between Trump and Zelenskiy aimed at advancing a peace deal with Russia.
Japan’s economy advanced 1.0% on an annualized basis in Q2 2025, exceeding market expectations of 0.4%
Japan’s industrial production rose 2.1% month-over-month in June 2025, topping flash data of 1.7%.
