SELL JPYINR DEC @ 58.3 SL 58.5 TGT 58.1-57.9 - Kedia Advisory
USDINR
SELL USDINR DEC @ 90.1 SL 90.3 TGT 89.9-89.75.
Observations
USDINR trading range for the day is 89.46-91.14.
Rupee ended above the 90 level after hitting a record low, as dollar sales from multiple foreign banks, likely on account of inflows.
Rupee's forward premiums jumped to their highest level since January, extending their recent rally on the back of crumbling rate cut bets
RBI’s policy decision, due on Friday, will be keenly watched for the rate action, measures on banking system liquidity and commentary on the rupee's slump.
EURINR
SELL EURINR DEC @ 105.2 SL 105.5 TGT 104.9-104.7.
Observations
EURINR trading range for the day is 104.82-105.92.
Euro dropped due to firmness in Rupee after support seen by an upward revision to November’s Eurozone.
Eurozone Composite PMI rose to 52.8, marking the strongest expansion in private-sector activity since May 2023.
Eurozone inflation edged up to 2.2% in November from 2.1% in October, slightly above market forecasts.
GBPINR
SELL GBPINR DEC @ 120.3 SL 120.6 TGT 120-119.7.
Observations
GBPINR trading range for the day is 119.77-120.91.
GBP rose as investors welcomed an upward revision to November’s UK services PMI.
UK Services PMI was revised higher to 51.3 in November 2025 from a preliminary estimate of 50.5, though below October's reading of 52.3.
BOE is widely expected to deliver a 25-basis-point rate cut in December, before pausing amid concerns over potential inflation re-acceleration.
JPYINR
SELL JPYINR DEC @ 58.3 SL 58.5 TGT 58.1-57.9.
Observations
JPYINR trading range for the day is 57.85-58.93.
JPY strengthened amid growing speculation that the Bank of Japan will raise interest rates this month.
Expectations firmed after BOJ Governor Kazuo Ueda voiced confidence in Japan’s economic outlook.
FM Satsuki Katayama said that there is no divergence between the government and the BOJ in their economic assessments.
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