Sell JPYINR OCT @ 59.6 SL 59.8 TGT 59.4-59.2 - Kedia Advisory
USDINR.
SELL USDINR OCT @ 88.95 SL 89.05 TGT 88.8-88.7.
Observations
USDINR trading range for the day is 88.8-89.
Rupee held in a tight band as likely intervention by RBI helped stave off pressure stemming from local importers' steady dollar demand.
The HSBC India Services PMI was revised lower to 60.9 in September 2025, down from a preliminary estimate of 61.6 and a final reading of 62.9 in August.
HSBC India Composite PMI slipped to 61.0 in September 2025, below the flash estimate of 61.9 and August’s 63.2, marking the lowest level since June.
EURINR
SELL EURINR OCT @ 104 SL 104.25 TGT 103.7-103.5.
Observations
EURINR trading range for the day is 103.38-104.68.
Euro fell after France’s newly appointed prime minister, Sébastien Lecornu, reportedly resigned.
The HCOB Germany Construction PMI edged up to 46.2 in September 2025 from 46 in August.
Industrial production in Spain rose 3.4% year-on-year in August 2025, marking the strongest annual increase since March 2023.
GBPINR
SELL GBPINR OCT @ 119.7 SL 120 TGT 119.4-119.1.
Observations
GBPINR trading range for the day is 119.1-119.82.
GBP fell as the dollar regained strength and renewed political turmoil in France.
In the UK, the Bank of England has kept rates on hold, with investors not expecting cuts until 2026.
The S&P Global UK Services PMI fell to 50.8 in September 2025 from a more than one-year high of 54.2 in the previous month.
JPYINR.
SELL JPYINR OCT @ 59.6 SL 59.8 TGT 59.4-59.2.
Observations
JPYINR trading range for the day is 58.86-60.58.
JPY depreciated after a ruling party vote set the stage for fiscal dove and pro Takaichi to become Japan’s next prime minister.
Takaichi said the government and central bank must coordinate closely to achieve demand-driven inflation supported by stronger wages and corporate earnings.
Bank of Japan Governor Kazuo Ueda reiterated that they will resume hiking interest rates if growth and inflation move in line with forecasts
