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USDINR

SELL USDINR JUL @ 85.6 SL 85.75 TGT 85.45-85.35.

Observations

USDINR trading range for the day is 85.01-86.01.

Rupee touched its strongest level in a month, lifted by dollar sales, optimism surrounding a U.S.-India trade deal aided sentiment.

The HSBC India Services PMI was revised lower to 60.4 in June 2025 from 60.7 in the preliminary estimates.

Crisil has revised India's GDP growth forecast to 6.5% for the current fiscal year, buoyed by expectations of a strong monsoon, anticipated rate cuts

EURINR

SELL EURINR JUL @ 101 SL 101.3 TGT 100.7-100.5.

Observations

EURINR trading range for the day is 100.59-101.45.

Euro steadied as investors continued to monitor trade developments.

Sentiment was supported by news that the US has lifted certain chip design export restrictions on China.

Spain Services PMI rose to 51.9 in June 2025 from 51.3 in the previous month, surpassing market expectations of 51.

GBPINR

SELL GBPINR JUL @ 117 SL 117.3 TGT 116.7-116.5.

Observations

GBPINR trading range for the day is 116.5-117.32.

GBP dropped after the UK government decided to cut benefits and concerns arose over the finance minister's future.

BoE Governor Andrew Bailey said it’s too soon to judge the inflation impact of tariffs but reaffirmed that the rate direction is “downwards.”

BoE policymaker Alan Taylor called for quicker rate cuts, citing the risk of a hard landing for the UK economy if cuts are delayed.

JPYINR

SELL JPYINR JUL @ 59.85 SL 60.05 TGT 59.65-59.45.

Observations

JPYINR trading range for the day is 59.47-60.13.

JPY gains as optimism over trade developments and a softer US dollar supported sentiment.

Japanese officials reaffirmed their commitment to pursuing a “win-win” trade agreement with Washington.

Japan Services PMI was revised higher to 51.7 in June 2025, up from 51.5 in the preliminary estimate