Sell JPYINR SEP @ 61.8 SL 62 TGT 61.6-61.4 - Kedia Advisory
USDINR
BUY USDINR SEP @ 94.8 SL 94.6 TGT 95-95.2.
Observations
USDINR trading range for the day is 94.41-95.15.
Rupee fell retreating from more than two-month highs as rising oil prices and increased importer hedging demand pressured the currency.
RBI remained active after selling at least $8 billion last week, with estimates as high as $15 billion.
Policy-driven dollar inflows have given the RBI greater room to intervene, while foreign exchange reserves recently hit a record $740.8 billion.
EURINR
SELL EURINR SEP @ 110.6 SL 110.9 TGT 110.3-110.
Observations
EURINR trading range for the day is 109.94-111.
Euro gains as investors looked ahead to ECB’s policy meeting later this week, while rising oil prices added to inflation concerns.
Investor morale in the euro zone rose to its highest reading in over four years in September.
German industrial production fell unexpectedly in July, dragged down by a sharp drop in car manufacturing.
GBPINR
SELL GBPINR SEP @ 128.6 SL 128.9 TGT 128.3-128.
Observations
GBPINR trading range for the day is 127.81-129.33.
GBP gains with British finance minister John Healey's first major economic speech giving the UK currency little clear direction.
UK retail sales rose 0.5% year-on-year on a like-for-like basis in August 2026, slowing from a 1% increase in July.
Investors also continued to assess the government’s commitment to fiscal discipline and restoring the UK’s credibility in international bond markets ahead of the Oct. 28 budget.
JPYINR
SELL JPYINR SEP @ 61.8 SL 62 TGT 61.6-61.4.
Observations
JPYINR trading range for the day is 60.8-62.02.
JPY gained driven by the unwinding of carry trades, expectations of capital repatriation and growing US political pressure for Japan to support the yen.
Japan’s economy expanded at an annualized rate of 1.4% in Q2 2026, revised up from the preliminary reading and market estimates of 1.1%.
Japan’s current account surplus rose to JPY 2,988.9 billion in July 2026 from JPY 2,586.3 billion in the same month a year earlier.
