SELL JPYINR JUN @ 59.6 SL 59.8 TGT 59.4-59.2 - Kedia Advisory
USDINR
SELL USDINR JUN @ 85.7 SL 85.85 TGT 85.6-85.5.
Observations
USDINR trading range for the day is 85.48-85.82.
Rupee logged its quietest trading session in more than a month, tracking muted moves in most Asian currencies.
India’s foreign exchange reserves stood at $691.5 billion as of May 30, down $1.2 billion from the previous week and $13.4 billion
Nomura has revised India's FY26 inflation forecast downward to 3.3%.
EURINR
SELL EURINR JUN @ 98 SL 98.2 TGT 97.7-97.5.
Observations
EURINR trading range for the day is 97.54-98.14.
Euro dropped as investors awaited further developments in the ongoing trade talks between the US and China, which entered a second day.
ECB signaled it may be nearing the end of its current easing cycle, contrary to earlier expectations.
Eurozone retail sales rose by 0.1% month-over-month in April 2025, following a revised 0.4% increase in March, in line with market consensus.
GBPINR
SELL GBPINR JUN @ 115.7 SL 116 TGT 115.4-115.1.
Observations
GBPINR trading range for the day is 115.02-116.42.
GBP weakened after fresh economic data signaled a notable slowdown in the labour market.
Wage growth came in below expectations, with private sector pay, a key metric closely monitored by the central bank, also decelerating.
BOE is mostly expected to leave interest rates unchanged, market odds for a rate cut in August have increased.
JPYINR
SELL JPYINR JUN @ 59.6 SL 59.8 TGT 59.4-59.2.
Observations
JPYINR trading range for the day is 59.07-59.87.
JPY weakened as optimism surrounding US-China trade talks dampened demand for safe-haven assets.
Japan’s service sector rose to 44.4 in May 2025, up from 42.6 in the previous month — its lowest level since February 2022.
Revised data showed Japan’s economy was flat in the first quarter, improving from an initial estimate of a 0.2% contraction.
