Sell JPYINR Mar @ 58.25 SL 58.45 TGT 58-57.8 - Kedia Advisory
USDINR
SELL USDINR MAR @ 86.45 SL 86.6 TGT 86.3-86.2.
Observations
USDINR trading range for the day is 86.1-86.66.
Rupee rose as persistent dollar sales by foreign banks and paring of short bets on the currency helped it weather a stronger dollar.
Indian economy resilient amid global trade war uncertainties, says cenbank
India's limited dependence on external demand is likely to protect it from the impact of U.S. trade policies, Fitch Ratings
EURINR
SELL EURINR MAR @ 93.8 SL 94 TGT 93.6-93.4.
Observations
EURINR trading range for the day is 93.09-94.69.
Euro fell after ECB President Lagarde warned of weaker growth but downplayed inflation risks if the EU retaliated against US tariffs.
Producer prices in Germany increased by 0.7% year-on-year in February 2025
Eurozone inflation eased more than initially estimated to a three-month low in February
GBPINR
SELL GBPINR MAR @ 112 SL 112.3 TGT 111.7-111.5.
Observations
GBPINR trading range for the day is 111.43-112.65.
GBP steadied after the release of the UK labor market data for three months ending January.
BOE voted 8-1 to keep the Bank Rate at 4.5% at its March 2025 meeting, as expected.
The United Kingdom's unemployment rate held steady at 4.4% from November to January 2025, in line with expectations
JPYINR
SELL JPYINR MAR @ 58.25 SL 58.45 TGT 58-57.8.
Observations
JPYINR trading range for the day is 57.94-58.34.
JPY appreciated as the dollar weakened after the US Fed reaffirmed its outlook for two interest rate cuts this year.
Fed Chair Jerome Powell also downplayed the inflationary impact of President Donald Trump’s tariffs, calling them as likely short-lived or transitory.
BOJ policymakers signaled a cautious stance, opting to assess the impact of global economic risks, particularly higher US tariffs, on Japan’s economy.
