SELL JPYINR JUN @ 60.1 SL 60.3 TGT 59.9-59.7 - Kedia Advisory
USDINR
SELL USDINR JUN @ 95.3 SL 95.5 TGT 95.1-94.9.
Observations
USDINR trading range for the day is 94.58-96.34.
Rupee strengthened after the holiday break on reduced pressure from elevated oil prices and easing Middle East tensions.
Optimism grew following reports that the United States and Iran were moving toward extending their ceasefire arrangement for 60 days.
The rupee has weakened roughly 5% since the conflict involving Iran escalated earlier this year and remained on track for a monthly decline.
EURINR
SELL EURINR JUN @ 111.2 SL 111.5 TGT 110.9-110.7.
Observations
EURINR trading range for the day is 110.41-112.39.
Euro dropped amid Rupee firmness and as markets assessed both Middle East developments and shifting expectations for European monetary policy.
Investors parsed the latest ECB meeting minutes, which showed several policymakers viewed the April decision to hold rates as a close call.
Money markets are now pricing in an almost fully expected 25-basis-point rate hike on June 11.
GBPINR
SELL GBPINR JUN @ 128.2 SL 128.5 TGT 127.9-127.7.
Observations
GBPINR trading range for the day is 126.97-129.73.
GBP dropped as investors weighed developments in Middle East diplomacy alongside shifting expectations for UK interest rates.
UK data pointing to a cooling labor market, softer-than-expected inflation, and signs of moderating economic activity.
UK retail sales volumes dropped 1.3% month-on-month in April 2026, worse than expectations of a 0.6% fall.
JPYINR
SELL JPYINR JUN @ 60.1 SL 60.3 TGT 59.9-59.7.
Observations
JPYINR trading range for the day is 59.77-60.47.
JPY dropped as Rupee firmness weighed despite Finance Minister warned that authorities could intervene in the foreign exchange market.
Retail sales in Japan grew 2.1% year-on-year in April 2026, following a downwardly revised 1.4% rise in the previous.
Japan’s industrial production rose 0.8% mom in April 2026, reversing a 0.4% drop in the prior month.
