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USDINR

Observations

USDINR trading range for the day is 83.36-83.82.

Rupee weakened pressured by likely outflows and strong dollar demand from local importers.

Markets continued to assess the extent to which the RBI is willing to support the currency

Fitch raises FY25 India GDP growth forecast to 7.2 per cent

SELL USDINR JUN @ 83.7 SL 83.8 TGT 83.58-83.45.

EURINR

Observations

EURINR trading range for the day is 89.34-89.86.

Euro remained in range as worries about the Eurozone political uncertainty continue to undermine the

Euro remained in range as worries about the Eurozone political uncertainty continue to undermine the

The Fed’s wait-and-see mode might boost the Greenback despite the recent weaker US Retail Sales data.

BUY EURINR JUN @ 89.5 SL 89.3 TGT 89.7-89.9.

GBPINR

Observations

GBPINR trading range for the day is 105.94-106.34.

GBP seen pressure after the Bank of England left the key bank rate steady at 5.25% as expected

BoE Governor Bailey stated that it was "good news" that inflation was back at its 2% target, but it was too soon to cut rates.

British inflation returned to its 2% target for the first time in nearly three years in May

BUY GBPINR JUN @ 105.8 SL 105.5 TGT 106.1-106.4.

JPYINR

Observations

JPYINR trading range for the day is 52.82-53.14.

JPY weakened as investors turned cautious ahead of Japan’s May inflation data

BOJ Governor told the Japanese parliament that they could raise interest rates again at the July meeting depending on upcoming economic data.

Japan finmin vows to monitor impact of China's excess capacity on economy

SELL JPYINR JUN @ 53 SL 53.2 TGT 52.8-52.6.