SELL JPYINR JUL @ 59.5 SL 59.7 TGT 59.3-59.1 - Kedia Advisory
USDINR
SELL USDINR JUL @ 95.6 SL 95.8 TGT 95.4-95.2.
Observations
USDINR trading range for the day is 95.31-95.77.
Rupee slipped as a broadly upbeat dollar pinched Asian currencies, with maturing contracts in the NDF adding to the pressure.
India's foreign exchange reserves fell to $666.93 billion as of June 26, compared with $672.59 billion a week earlier.
India's inflation target is unlikely to be raised, with RBI Governor Malhotra suggesting a potential long-term reduction
EURINR
SELL EURINR JUL @ 109.5 SL 109.8 TGT 109.2-108.9.
Observations
EURINR trading range for the day is 109.03-109.53.
Euro steadied amid softer Eurozone inflation and comments from ECB’s Lagarde, which reduced expectations for a third ECB rate hike this year.
ECB’s Lagarde noted that risks to euro-area inflation and growth had diminished, citing lower energy price pressures from the US-Iran peace deal.
Germany's factory orders rose 1.9% month-over-month in May 2026, rebounding from a downwardly revised 3.2% drop in April.
GBPINR
SELL GBPINR JUL @ 128.2 SL 128.5 TGT 127.9-127.6.
Observations
GBPINR trading range for the day is 127.25-128.63.
GBP rose helped by easing domestic political risk and soft U.S. labour market data.
Markets are still pricing in a greater chance of a rate hike than a rate cut from the Bank of England this year.
BoE's Mann said looser financial conditions since the last rate meeting in June will be a key factor in her decision on rates at the July meeting.
JPYINR
SELL JPYINR JUL @ 59.5 SL 59.7 TGT 59.3-59.1.
Observations
JPYINR trading range for the day is 19.82-19.82.
JPY weakened as Tokyo has yet to intervene despite repeated warnings from officials.
Finance Minister Satsuki Katayama reiterated that authorities are prepared to step into the market at any time if needed.
Japan’s Services PMI Business Activity Index stood at 52.2 in June 2026, higher than the flash data of 51.8 and 50.0 in the prior month.
