Sell JPYINR Mar @ 57.4 SL 57.6 TGT 57.2-57 - Kedia Advisory

USDINR
SELL USDINR MAR @ 85.7 SL 85.85 TGT 85.55-85.4.
Observations
USDINR trading range for the day is 85.19-86.23.
Rupee leaped higher with persistent dollar sales from foreign banks
India Manufacturing PMI accelerated to 57.6 in March 2025 from 56.3 in the previous month.
India Services PMI fell to 57.7 in March 2025 from 59.0 in the previous month, marking the 44th consecutive month of growth.
EURINR
SELL EURINR MAR @ 92.95 SL 93.15 TGT 92.7-92.5.
Observations
EURINR trading range for the day is 92.24-93.74.
Euro fell after ECB President Lagarde warned of weaker growth but downplayed inflation risks if the EU retaliated against US tariffs.
Traders have recently scaled back expectations for ECB cuts, now pricing in just two reductions this year.
Germany’s HCOB Services PMI fell to 50.2 in March 2025, the lowest in four months, down from 51.1 in February
GBPINR
SELL GBPINR MAR @ 111.1 SL 111.4 TGT 110.75-110.5.
Observations
GBPINR trading range for the day is 110.48-111.58.
GBP falls amid a risk-off mood and persistent US Dollar strength.
BoE and Fed flag uncertainty, both citing Trump’s tariffs as a risk to global growth and inflation outlook.
BoE predicted a peak in British inflation of 3.75% in the third quarter of this year, up slightly from a February estimate of 3.7%.
JPYINR
SELL JPYINR MAR @ 57.4 SL 57.6 TGT 57.2-57.
Observations
JPYINR trading range for the day is 56.88-57.68.
JPY slipped as disappointing business activity data countered a hawkish Bank of Japan outlook.
Japan’s private sector activity contracted for the first time in five months
The Au Jibun Bank Japan Manufacturing PMI declined to 48.3 in March 2025 from 49.0 in the previous month









