Sell JPYINR SEP @ 62 SL 62.2 TGT 61.8-61.6 - Kedia Advisory
USDINR
BUY USDINR SEP @ 95.8 SL 95.6 TGT 96-96.2.
Observations
USDINR trading range for the day is 95.51-96.23.
Rupee fell as persistent oil price gains; elevated US Treasury yields and growing expectations of Fed rate hike weighed.
India’s inflation rate rose to 4.82% in August from 4.45% in July, its highest since December 2024 and in line with expectations.
India’s wholesale prices increased 9.92% yoy in August 2026, accelerating slightly from a 9.78% rise in July and surpassing expectations of 9.89%.
EURINR
SELL EURINR SEP @ 111 SL 111.3 TGT 110.7-110.4.
Observation
EURINR trading range for the day is 110.4-111.42.
Euro dropped as the dollar remained supported ahead of a widely expected Federal Reserve rate hike on Wednesday.
Euro Area recorded a trade surplus of €14.2 billion in July 2026, the highest in nine months, up from €10.7 billion in July 2025.
The ZEW Indicator of Economic Sentiment for the Euro Area eased to 25.8 in September 2026 from a six-month high of 31.4 in August.
GBPINR
SELL GBPINR SEP @ 129.6 SL 129.9 TGT 129.3-129.
Observation
GBPINR trading range for the day is 129.24-129.72.
GBP gained amid Rupee weakness as investors flocked towards the safe-haven dollar after oil prices jumped on renewed concerns about energy supplies.
The Bank of England is expected to keep rates on hold on Thursday but traders now expect an increase later this year and more in 2027.
British gross domestic product grew 0.4% in July, far outstripping economists' forecasts that the economy would flatline.
JPYINR
SELL JPYINR SEP @ 62 SL 62.2 TGT 61.8-61.6.
Observations
JPYINR trading range for the day is 61.73-61.85.
JPY weakened as the dollar strengthened ahead of an expected US Federal Reserve interest rate hike this week.
BOJ is widely expected to raise its policy rate to 1.25% on Friday, its highest level since April 1995, as the central bank responds to persistent upside risks to inflation.
Markets are also watching for guidance from the BOJ on the potential for another rate hike later this year
