Sell JPYINR OCT @ 60.4 SL 60.6 TGT 60.2-60 - Kedia Advisory
USDINR
SELL USDINR OCT @ 88.9 SL 89.05 TGT 88.75-88.6.
Observations
USDINR trading range for the day is 88.75-88.97.
Rupee closed slightly weaker, sentiment remained skewed on the back of ongoing
U.S.-India trade frictions and portfolio outflows.
India's FM Sitharaman said that the government is committed to increasing state capital spending to support economic growth.
India’s manufacturing PMI slipped to a four-month low of 57.7 in September, with slower growth in new orders, output, and hiring.
EURINR
SELL EURINR OCT @ 104.5 SL 104.8 TGT 104.2-104.
Observations
EURINR trading range for the day is 104.18-104.66.
Euro steadied as markets weighed the widening policy gap between the European Central Bank and the Federal Reserve.
Eurostat data confirmed Eurozone inflation quickened to 2.2% in September, up from 2.0% in August and slightly above the ECB’s mid-point target.
ECB’s Guindos reiterated that current rates remain “adequate” and decisions will be taken “meeting by meeting,” signaling little appetite for imminent easing.
GBPINR
SELL GBPINR OCT @ 119.7 SL 120 TGT 119.4-119.1.
Observations
GBPINR trading range for the day is 119.21-119.89.
GBP steadied as traders began assessing the potential impact of the UK’s November budget on the economy.
UK Finance Minister Rachel Reeves is set to present her annual budget in eight weeks, aiming to meet her fiscal targets even if it means raising taxes.
The BoE anticipates a peak in CPI inflation at 4.0% in September, with a gradual decline towards the 2% target in the medium term
JPYINR
SELL JPYINR OCT @ 60.4 SL 60.6 TGT 60.2-60.
Observations
JPYINR trading range for the day is 60.07-60.61.
JPY dropped as traders considered the impact of potential rate increases by the Bank of Japan and a leadership election.
BOJ will continue to raise the policy rate and adjust monetary accommodation in line with improvements in economic activity and prices, Governor said.
The S&P Global Japan Services PMI rose to 53.3 in September 2025, above the flash estimate of 53.0 and August’s 53.1.
