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USDINR

Observations

USDINR trading range for the day is 84.05-84.13.

Rupee slipped amid likely outflows from local equities while intervention by RBI helped curb sharp declines.

India cenbank deputy says climate, tech risks a threat to inflation targeting

Aggregate demand in India is likely to shrug off the temporary slowdown in momentum seen in the second quarter

SELL USDINR OCT @ 84.12 SL 84.22 TGT 84.02-83.94

EURINR

Observations

EURINR trading range for the day is 90.85-91.37.

Euro dropped as traders are anticipating further monetary policy easing from the ECB

ECB’s Lagarde's remarks were interpreted as a downgrade of the economic outlook.

Euro zone adjusted current account surplus shrinks in Aug

SELL EURINR OCT @ 91.1 SL 91.3 TGT 90.9-90.7.

GBPINR

Observations

GBPINR trading range for the day is 108.9-109.52.

GBP fell as investors focused on the relative strength of the U.S. economy, pushing up the dollar.

Public sector net borrowing, in the UK rose to £16.6 billion in September 2024.

British inflation fell more than expected in September to 1.7%, below the Bank of England's 2% target.

BUY GBPINR OCT @ 109 SL 108.8 TGT 109.25-109.45.

JPYINR 

Observations

JPYINR trading range for the day is 55.59-56.07.

JPY depreciated as markets fear could prompt another currency intervention from Japanese authorities.

Data showed that Japan’s headline and core inflation rates slowed to a five-month low of 2.5% and 2.4%, respectively, in September.

Japan’s Mimura reiterate government warnings that they are closely watching currency moves and that excess volatility is undesirable.

SELL JPYINR OCT @ 55.8 SL 56 TGT 55.6-55.4.