Sell JPYINR OCT @ 60.6 SL ABOVE 60.9 TGT 60 - Kedia Advisory
USDINR
BUY USDINR OCT @ 94.5 SL BELOW 94.3 TGT 94.8
Observations
USDINR trading range for the day is 94.28-95.13.
Rupee hovered around 94.6 per dollar, strengthening to a six-week high amid expected dollar inflows and continued RBI intervention.
The central bank continued selling dollars and tightened scrutiny of large overseas investments to curb capital outflows.
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However, elevated oil prices remained a downside risk, as higher crude costs could widen India's import bill and increase demand for dollars. 908te W
EURINR
SELL EURINR OCT @ 107 SL ABOVE 107.3 TGT 106.5
Observations
EURINR trading range for the day is 106.61-107.37.
Euro dropped as escalating social unrest across France, Italy and other European countries heightened concerns over fiscal stability and political uncertainty.
Geopolitical tensions also intensified after Ukrainian President Zelenskyy accused US President Trump of pressuring Kyiv to make concessions to Russia.
ECB and Fed are widely expected to leave interest rates unchanged at their upcoming meetings, with markets anticipating possible rate hikes in December.
GBPINR
SELL GBPINR OCT @ 126.8 SL ABOVE 127.1 TGT 126.4
Observations
GBPINR trading range for the day is 126.23-127.42.
GBP steadied after stronger-than-expected UK labor market data boosted expectations of a Bank of England (BOE) rate hike next month.
The unemployment rate unexpectedly fell to 4.7% in the three months to August, its lowest level since July 2025, while regular wage growth accelerated to 3.7%.
Governor Andrew Bailey's recent remarks that the longer the war continues, the harder it will be for policymakers not to respond, suggest a rate hike could be approaching..
JPYINR
SELL JPYINR OCT @ 60.6 SL ABOVE 60.9 TGT 60
Observations
JPYINR trading range for the day is 60.30-60.90.
JPY remaining within a narrow range as investors assessed data showing that exports increased less than expected in September and posted the slowest growth since April.
Japan's trade deficit widened significantly to JPY 536.6 billion in September 2026 from JPY 277.7 billion in the same month a year earlier.
Resilient demand for Al-related semiconductors continued to support exports, while supply-chain disruptions linked to the Middle East conflict posed headwinds.
