Sell JPYINR Feb @ 58.2 SL 58.4 TGT 58-57.8 - Kedia Advisory
USDINR
BUY USDINR FEB @ 87.65 SL 87.5 TGT 87.8-87.9.
Observations
USDINR trading range for the day is 87.59-87.77.
Rupee declined to its lifetime low as a dip in Asian peers added to the prevailing bearish outlook on the currency
Uncertainty about U.S. trade tariffs and persistent portfolio outflows have hurt the rupee over the last two months.
The US economy added over 180,000 private-sector jobs in January, surpassing the forecast of 150,000
EURINR
SELL EURINR FEB @ 91.1 SL 91.3 TGT 90.9-90.7.
Observations
EURINR trading range for the day is 90.57-91.41.
Euro dropped with investors reacting to the potential economic impact of President Trump's trade tariffs.
In the Eurozone, business activity returned to growth after two months of contraction.
There are concerns that US tariffs might cause deflationary pressures, potentially prompting the ECB to ease monetary policy even more.
GBPINR
SELL GBPINR FEB @ 109 SL 109.3 TGT 108.7-108.5.
Observations
GBPINR trading range for the day is 108.29-109.99.
GBP fell as investors remain concerned about the UK’s stagnating economy.
BOE cut its benchmark Bank Rate by 25bps to 4.5% in its February 2025 decision, as expected
Meanwhile, concerns over US tariffs continue to weigh on sentiment.
JPYINR
SELL JPYINR FEB @ 58.2 SL 58.4 TGT 58-57.8.
Observations
JPYINR trading range for the day is 57.85-58.29.
JPY rose as BOJ’s Tamura said that the central bank must lift the policy rate to at least 1% in the latter part of fiscal 2025.
Finance Minister Katsunobu Kato also warned that inflation could continue rising.
Data highlighted strong wage growth, fueling expectations that the BOJ will continue raising interest rate this year.
