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USDINR

Observations

USDINR trading range for the day is 83.23-83.41.

Rupee ended slightly higher aided by IPO-related inflows but importers' U.S. dollar demand capped gains.

India's GDP likely grew 7% in Q2, piping MPC's forecast of 6.5%: ICRA

The Ministry of Finance stated that they remain on high alert over inflationary risks.

SELL USDINR NOV @ 83.4 SL 83.55 TGT 83.22-83.1.

EURINR

Observations

EURINR trading range for the day is 90.54-91.14.

Euro dropped as investors continued to assess the latest Federal Reserve policy meeting minutes.

US central bank signaled that monetary policy will remain restrictive and gave no indication that it could start cutting interest rates soon.

ECB policymaker Pablo Hernandez de Cos further stated that discussing rate cuts at this stage was "premature."

SELL EURINR NOV @ 91 SL 91.2 TGT 90.75-90.6.

GBPINR

Observations

GBPINR trading range for the day is 104.1-104.6.

GBP steadied as BOE Governor Bailey reiterated that the central bank's stance on interest rates did not need changing.

Bailey told the British parliament's Treasury Select Committee that inflation was on track to get back to the central bank's 2% target

BOE’s Mann said she favoured further tightening to ensure inflation returns to target.

SELL GBPINR NOV @ 104.5 SL 104.8 TGT 104.15-104.

JPYINR

Observations

JPYINR trading range for the day is 55.54-56.58.

JPY dropped as minutes of Fed’s meeting revealed that monetary setting will likely stay restrictive

Japan cuts view on economy for first time in 10 months

Investors look ahead to preliminary manufacturing and services PMI figures and inflation data in Japan this week to guide the economic

SELL JPYINR NOV @ 56.1 SL 56.3 TGT 55.85-55.7.