SELL JPYINR JAN @ 57 SL 57.2 TGT 56.8-56.6 - Kedia Advisory
USDINR
SELL USDINR JAN @ 90.35 SL 90.5 TGT 90.2-90.1.
Observations
USDINR trading range for the day is 89.88-90.7.
Rupee ended weaker with corporate dollar appetite and likely intervention by RBI tugging the currency
India’s wholesale prices increased 0.83% year-on-year in December 2025, surpassing market expectations of a 0.30% rise and rebounding from a 0.32% drop in November.
World Bank retained India’s GDP growth forecast at 6.5% for 2026-27, signaling a slowdown from its estimate of 7.2%.
EURINR
SELL EURINR JAN @ 105.4 SL 105.7 TGT 105.1-104.9.
Observations
EURINR trading range for the day is 104.78-105.7.
Euro steadied as investors assessed the latest US inflation data and its implications for monetary policy.
ECB member François Villeroy de Galhau said that expectations of an ECB rate hike this year are “fanciful.”
The ECB left policy rates unchanged in December and raised some growth and inflation forecasts, reinforcing market expectations that rates will remain on hold.
GBPINR
SELL GBPINR JAN @ 121.7 SL 122 TGT 121.4-121.2.
Observations
GBPINR trading range for the day is 120.91-122.01.
GBP steadied as renewed concerns over the Fed’s independence weighed on the US Dollar.
BoE’s Taylor says rates should keep falling as inflation nears 2% target.
BoE Governor Bailey has said inflation - could fall to around 2% in April or May this year
JPYINR
SELL JPYINR JAN @ 57 SL 57.2 TGT 56.8-56.6.
Observations
JPYINR trading range for the day is 56.64-57.66.
JPY gains on short covering after pressure seen amid speculation that PM Takaichi may call a snap election.
The Reuters Tankan index for Japanese manufacturers fell to +7 in January 2026 from +10 in December, marking its weakest reading in six months.
Finance Minister Satsuki Katayama noted that she and US Treasury Secretary Scott Bessent expressed concern over the yen’s “one-sided depreciation”
