Sell JPYINR OCT @ 60.7 SL ABOVE 61 TGT 60.3 - Kedia Advisory
USDINR
BUY USDINR OCT @ 95.2 SL BELOW 95 TGT 95.5
Observations
USDINR trading range for the day is 94.77-95.58.
Rupee rose as the central bank followed up tough regulatory measures with hawkish commentary.
RBI Governor Sanjay Malhotra defended the recent forex curbs as an effort to discourage speculative bets.
India’s wholesale prices increased 11.39% year-on-year in September 2026, accelerating from a 9.92% rise in August.
EURINR
SELL EURINR OCT @ 107.55 SL ABOVE 107.8 TGT 107
Observations
EURINR trading range for the day is 107.04-107.86.
Euro recovered on short covering after pressure seen persistent energy-driven inflation, resilient economic activity and growing concerns over France’s public finances
Germany’s wholesale prices jumped by 8.7% year-on-year in September 2026, accelerating from 6.8% in the previous month.
Markets are pricing in another rate hike from both the European Central Bank and the US Federal Reserve in December.
GBPINR
SELL GBPINR OCT @ 126.8 SL ABOVE 127.1 TGT 126.4
Observations
GBPINR trading range for the day is 126.17-127.17.
GBP steadied after the IMF’s upward revision to its UK growth forecast, with the economy now expected to expand by 1.3% this year.
Bank of England's Pill says he's sceptical about market pricing four rate hikes
The IMF is not recommending that Britain speed up its fiscal consolidation to reduce its budget deficit faster.
JPYINR
SELL JPYINR OCT @ 60.7 SL ABOVE 61 TGT 60.3
Observations
JPYINR trading range for the day is 60.70-60.70.
JPY steadied after reports suggested the Bank of Japan was reluctant to deliver a rare back-to-back interest rate hike this month.
The central bank reportedly sees limited justification for consecutive rate hikes unless there are clear signs of a sharp rise in upside inflation risks.
Governor Ueda said policymakers would continue to closely monitor bond yields, reiterating that long-term interest rates should be determined by market forces.
