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USDINR

SELL USDINR JUN @ 86.35 SL 86.5 TGT 86.2-86.1.

Observations

USDINR trading range for the day is 85.8-86.56.

Rupee hit its weakest level in more than two months, hurt by worries over geopolitical tensions in the Middle East.

India’s trade deficit stood at $21.88 billion in May 2025, little changed from $23.8 billion a year ago

India’s wholesale price inflation cooled to 0.39% in May 2025, marking its lowest level since March 2024.

EURINR

SELL EURINR JUN @ 99.85 SL 100.05 TGT 99.6-99.4

Observations

EURINR trading range for the day is 99.3-100.12.

Euro steadied as escalating tensions between Israel and Iran continued to dampen investor sentiment.

Imports into the Eurozone inched up just 0.1% year-on-year to €233.07 billion in April 2025.

The G7 issued a statement backing Israel and labeling Iran as the “principal source of regional instability and terror.”

GBPINR

SELL GBPINR JUN @ 117 SL 117.3 TGT 116.6-116.2.

Observations

GBPINR trading range for the day is 116.58-117.26.

GBP steadied as escalating Middle East tensions drove investors toward safe-haven assets amid fears of a wider conflict.

President Trump signed a deal lowering certain tariffs on imports from the U.K. as both nations work toward a broader trade agreement.

Money markets expect BOE to keep interest rates at 4.25% and roughly price in another two quarter-point rate cuts by December

JPYINR

SELL JPYINR JUN @ 59.8 SL 60 TGT 59.6-59.4.

Observations

JPYINR trading range for the day is 59.52-59.98.

JPY steadied after the Bank of Japan left its policy rate unchanged at 0.5%, in line with market expectations.

The central bank also maintained its existing Japanese government bond tapering plan through March 2026.

Policymakers remain cautious as they assess the inflationary impact of higher oil prices and await greater clarity on US trade policy.