SELL JPYINR JUN @ 60.1 SL 60.3 TGT 59.9-59.7 - Kedia Advisory
USDINR
SELL USDINR JUN @ 95.15 SL 95.3 TGT 94.85-94.65.
Observations
USDINR trading range for the day is 94.45-96.25.
Rupee rallied after the central bank announced steps to draw inflows and support the currency.
RBI kept its key repo rate unchanged at 5.25% for the third consecutive meeting in June and maintained a neutral stance amid a weakening rupee.
RBI lowered its GDP growth forecast for FY2026/27 to 6.6%, down from its earlier estimate of 6.9%.
EURINR
SELL EURINR JUN @ 110.9 SL 111.2 TGT 116.5-110.1.
Observations
EURINR trading range for the day is 110.22-111.86.
Euro dropped as Rupee firmness weighed after investors prepared for a likely European Central Bank interest rate hike next.
Markets now price in a near-certain 25-basis-point ECB rate increase, with two or possibly three hikes expected this year.
ECB hawk Isabel Schnabel cautioned that it is premature to specify the number of rate hikes needed.
GBPINR
SELL GBPINR JUN @ 128.3 SL 128.3 TGT 127.9-127.6.
Observations
GBPINR trading range for the day is 127.55-129.13.
GBP dropped amid firmness in Rupee and amid US-Iran negotiation concerns
The Halifax House Price Index showed UK house prices rose 0.5% year-on-year in May 2026, below the expected 1.0% increase.
Markets anticipate nearly two Bank of England interest rate hikes this year, with the first expected in September
JPYINR
SELL JPYINR JUN @ 60.1 SL 60.3 TGT 59.9-59.7.
Observations
JPYINR trading range for the day is 60.02-60.02.
JPY steadied as a potential trigger for another round of currency intervention by Japanese authorities, as renewed US-Iran tensions boosted demand for the dollar.
Japanese Prime Minister Sanae Takaichi said the government seeks to bolster confidence in the yen by strengthening the economy.
Japan’s foreign reserves dropped by USD 77.11 billion to USD 1.31 trillion in May 2026 from USD 1.38 trillion in the previous month.
