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USDINR

BUY USDINR AUG @ 95.6 SL 95.4 TGT 95.8-96.

Observations

USDINR trading range for the day is 95.58-95.74.

Rupee hovered in a tight range as strong capital inflows and continued Reserve Bank of India intervention helped cushion the currency.

RBI stated that it had garnered nearly $73 billion through measures introduced in June to strengthen the balance of payments, boosting its capacity to support the rupee.

Market participants remained cautious about building long-dollar positions amid expectations of RBI intervention around 95.80 per dollar.

EURINR

SELL EURINR AUG @ 112 SL 112.3 TGT 111.7-111.4.

Observations

EURINR trading range for the day is 111.52-112.02.

Euro dropped as investors anticipate a more hawkish ECB amid geopolitical tensions and await details on Iran sanctions.

Euro zone consumer confidence rose by 0.4 points in August from the July number.

The ECB is widely expected to raise interest rates in September, following its June tightening to curb inflation pressures triggered by the US-Iran conflict.

GBPINR

SELL GBPINR AUG @ 130.6 SL 130.9 TGT 130.2-130.

Observations

GBPINR trading range for the day is 130.25-131.11.

GBP dropped as investors weighed persistent inflationary pressures stemming from oil prices above $90

Britain is showing surprising signs of strength among businesses and consumers, in an early boost for new Prime Minister Andy Burnham.

Britain's economy expanded by 0.3% in June and 0.4% over the second quarter as a whole, led by the services sector.

JPYINR

SELL JPYINR AUG @ 60.25 SL 60.5 TGT 60-59.8.

Observations

JPYINR trading range for the day is 60.08-60.26.

JPY steadied amid stronger expectations for an early Bank of Japan rate hike continued to underpin the currency.

Markets are now pricing an around 82% probability of a September rate increase, up sharply from about 23% before the BOJ’s July meeting

Investors are awaiting Deputy Governor Ryozo Himino’s speech on Thursday for further clues on the timing and pace of policy tightening