Sell JPYINR JUN @ 60 SL 60.2 TGT 59.8-59.6 - Kedia Advisory
USDINR
SELL USDINR JUN @ 95.5 SL 95.7 TGT 95.3-95.1.
Observations
USDINR trading range for the day is 94.9-95.92.
Rupee settled flat, with traders pointing to volatility in oil prices, and likely central bank intervention.
Fitch Ratings has reduced India's GDP growth projection to 6.4 percent for the current fiscal year.
India's current account surplus at $7.1 bn in Q4 FY26, aided by robust services exports and remittances
EURINR
SELL EURINR JUN @ 110.3 SL 110.6 TGT 110-109.7.
Observations
EURINR trading range for the day is 109.77-110.85.
Euro seen pressured as Middle East tensions escalated, with the US and Iran exchanging fresh strikes.
President Trump stated that Iran is taking "too long" to negotiate a peace deal and will now "pay the price".
Investors are also preparing for the ECB’s policy meeting, where a 25-basis-point rate hike, the first move in a year
GBPINR
SELL GBPINR JUN @ 127.8 SL 128.1 TGT 127.5-127.2.
Observations
GBPINR trading range for the day is 127.23-128.25.
GBP dropped as Middle East tensions escalated and expectations for a tighter Bank of England monetary policy grew.
BOE member Taylor, remarked that current interest rates are "quite restrictive" and saw no need for further tightening to curb inflation.
UK Composite PMI fell to 49.7 in May of 2026 from 52.6 in the previous month, revised higher from the preliminary estimate of 48.5
JPYINR
SELL JPYINR JUN @ 60 SL 60.2 TGT 59.8-59.6.
Observations
JPYINR trading range for the day is 59.73-60.01.
JPY gains as investors are looking for hawkish signals from BOJ Governor, with markets increasingly speculating on another rate hike in September.
Japan’s producer prices rose 6.3% yoy in May 2026, accelerating from an upwardly revised 5.3% increase in the prior month.
The latest data strengthened expectations that the Bank of Japan will raise interest rates next week as policymakers contend with mounting inflationary pressures.
