SELL JPYINR FEB @ 58.3 SL 58.5 TGT 58.1-57.9 - Kedia Advisory
USDINR
SELL USDINR FEB @ 90.5 SL 90.7 TGT 90.3-90.15.
Observations
USDINR trading range for the day is 89.5-91.62.
Rupee strengthened after the US lowered their tariffs against India.
US President Trump and Indian Prime Minister Modi agreed to a deal that would cut tariffs on Indian goods to 18% from 50.
Rupee reached a record low last week as the rebound in oil prices increased domestic dollar demand for major energy importers.
EURINR
BUY EURINR FEB @ 106.5 SL 106.2 TGT 106.8-107.
Observations
EURINR trading range for the day is 105.69-108.49.
Euro dropped as dollar index rebounded, supported by strong US economic data and shifting expectations for Federal Reserve policy.
ECB’s Villeroy de Galhau said the dollar’s recent depreciation is among the key factors shaping the ECB’s policy stance going forward.
The ECB has kept monetary policy steady since June, and investors do not anticipate meaningful changes in the coming months.
GBPINR
BUY GBPINR FEB @ 123.4 SL 123.1 TGT 123.7-123.9.
Observations
GBPINR trading range for the day is 122.79-124.49.
GBP weakened as investors positioned cautiously ahead of the Bank of England policy decision.
GBP faced pressure from a firmer US dollar following shifts in Federal Reserve leadership expectations and reduced bets on US rate cuts. Britain’s inflation remains the highest among G7 peers,
while recent manufacturing PMI data showed activity at its strongest since August 2024.
JPYINR
SELL JPYINR FEB @ 58.3 SL 58.5 TGT 58.1-57.9
Observations
JPYINR trading range for the day is 57.57-59.21.
JPY dropped as robust US economic data and the nomination of a hawkish Federal Reserve chief supported the dollar.
Prime Minister Sanae Takaichi described a weak yen as a potential opportunity for export industries, signaling support for a softer currency.
Japan's exports of agricultural, forestry and fishery products rose 12.8% to an all-time high in 2025.
