SELL JPYINR JUL @ 59.75 SL 60 TGT 59.5-59.25 - Kedia Advisory
USDINR
SELL USDINR JUL @ 86 SL 86.2 TGT 85.8-85.65.
Observations
USDINR trading range for the day is 85.32-86.42.
Rupee slumps as Trump’s BRICS tariff threat adds pressure with peers.
India's forex reserves up $4.8 billion to $702.78 billion as of June 27
India's services sector experienced robust growth in June, reaching a 10-month high with a PMI of 60.4
EURINR
SELL EURINR JUL @ 101 SL 101.3 TGT 100.7-100.5.
Observations
EURINR trading range for the day is 100.68-101.26.
Euro gains as investors awaited clarity on the US administration’s upcoming tariff measures.
On the monetary policy front, markets now expect only one additional rate cut from the ECB this year.
ECB officials have signaled that rates will likely be held steady at this month’s meeting following eight consecutive cuts since June 2024.
GBPINR
SELL GBPINR JUL @ 117.1 SL 117.4 TGT 116.8-116.5.
Observations
GBPINR trading range for the day is 116.62-117.34.
GBP gains despite growing concerns over the UK’s fiscal outlook.
Chancellor Rachel Reeves hinted at possible tax hikes in the autumn budget to address a public finance gap, telling
The Guardian she wouldn’t rule them out. On monetary policy, markets still expect the Bank of England to cut rates by 25 basis points in September.
JPYINR
SELL JPYINR JUL @ 59.75 SL 60 TGT 59.5-59.25.
Observations
JPYINR trading range for the day is 59.73-59.81.
JPY weakened as disappointing wage data dampened expectations for further Bank of Japan rate hikes.
Japan’s foreign reserves increased by S15.6 billion to $1.314 trillion in June 2025, hitting the highest level since July 2022.
Nominal wages in Japan rose just 1% year-on-year in May 2025, marking a third straight month of deceleration.
