Sell JPYINR Mar @ 57.2 SL 57.4 TGT 57-56.8 - Kedia Advisory
USDINR
BUY USDINR APR @ 85.95 SL 85.8 TGT 86.1-86.25.
Observations
USDINR trading range for the day is 85.84-86.32.
Rupee settled flat influenced by maturity of positions in the non-deliverable forwards market, exporter activity, and mild dollar sales.
S&P Global Ratings has lowered India's GDP growth forecast to 6.5% for the next fiscal year
Dollar-rupee forward premiums rose, with the 1-year implied yield touching a more than one-month high of 2.23%.
EURINR
SELL EURINR APR @ 93.15 SL 93.35 TGT 92.9-92.7.
Observations
EURINR trading range for the day is 92.73-93.25.
Euro dropped as investors remained caution about the new round of U.S. tariffs and their potential impact on economic growth.
Spain's economy outperformed other major euro zone countries in 2024
France’s consumer confidence indicator fell to 92 in March 2025 from 93 in February
GBPINR
SELL GBPINR APR @ 111.3 SL 111.6 TGT 111-110.7.
Observations
GBPINR trading range for the day is 110.93-111.53.
GBP edged down as traders digested a weaker-than-expected inflation reading and awaited the Spring Statement.
The annual inflation rate in the UK fell to 2.8% in February 2025 from 3% in January.
UK annual core inflation rate eased to 3.5% in February 2025 from January's nine-month high of 3.7%,
JPYINR
SELL JPYINR MAR @ 57.2 SL 57.4 TGT 57-56.8.
Observations
JPYINR trading range for the day is 56.7-57.22.
JPY steadied as investors braced for the implementation of US reciprocal tariffs, which could impact key Japanese exports.
BOJ may consider monetary tightening if a surge in food prices triggers broader inflation, Governor Kazuo Ueda told.
Japan’s leading economic indicators index, was revised higher to 108.3 in January 2025 from preliminary estimates of 108.0.
