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USDINR

Observations

USDINR trading range for the day is 82.83-82.95.

Rupee ended stronger aided by likely inflows, but dollar demand from state-run banks, curbed further gains.

India's foreign exchange reserves dipped by of $1.13 billion to $616.1 billion

RBI governor Das warned against any premature move that would undermine policymakers' success so far

SELL USDINR FEB @ 82.95 SL 83.05 TGT 82.85-82.75.

EURINR

Observations

EURINR trading range for the day is 89.59-90.11.

Euro traded in range as investors turned cautious ahead of key economic data in major economies.

The Ifo Business Climate indicator for Germany was slightly up at 85.5 in February 2024

Median consumer expectations for Euro Area inflation over the next 12 months edged up to 3.3% in January of 2024

SELL EURINR FEB @ 90 SL 90.2 TGT 89.8-89.6

GBPINR

Observations

GBPINR trading range for the day is 104.82-105.38.

GBP remained in range as investors reevaluated BOE’s policy outlook following the release of British PMI data.

The GfK Consumer Confidence indicator in UK unexpectedly fell to -21 in February 2024

The UK preliminary Manufacturing PMI for February came in at 47.1 versus 47.0, better than expected

SELL GBPINR FEB @ 105.4 SL 105.7 TGT 105.1-104.9.

JPYINR

Observations

JPYINR trading range for the day is 54.96-55.24.

JPY remained in range as economy entered a technical recession

Japanese authorities will intervene to steam further JPY weakness seem to cap gains.

BOJ's Ueda says cenbank will guide policy with eye on rising trend inflation

SELL JPYINR FEB @ 55.25 SL 55.45 TGT 55.05-54.9.