SELL USDINR APR @ 93.2 SL 93.5 TGT 92.9-92.7. - Kedia Advisory
USDINR
SELL USDINR APR @ 93.2 SL 93.5 TGT 92.9-92.7.
Observations
USDINR trading range for the day is 92.73-93.65.
Rupee eased, reversing slightly from a three-week high, pressured by lingering uncertainty over the US-Iran ceasefire on oil flows.
The Reserve Bank of India kept FY26 growth unchanged at 7.6% but pencilled in a slower 6.9% expansion for FY27.
Reserve Bank of India held policy rates steady, balancing elevated oil-driven inflation risks against slower growth.
EURINR
SELL EURINR APR @ 109 SL 109.3 TGT 108.6-108.2.
Observations
EURINR trading range for the day is 108.45-109.45.
Euro steadied as investors weighed the fragility of a ceasefire between the US and Iran.
US President Donald Trump declared that US forces would maintain their presence near Iran until a “real agreement” is secured.
Markets are pricing in a higher likelihood of additional interest rate hikes by ECB, with at least two increases now expected by the end of 2026.
GBPINR
SELL GBPINR APR @ 125.2 SL 125.6 TGT 124.7-124.4.
Observations
GBPINR trading range for the day is 124.5-125.58.
GBP stabilized as investors monitored the increasingly fragile US-Iran ceasefire.
The RICS UK Residential Market Survey showed the house price balance declined to -23% in March 2026 from -14% in January.
Financial markets are anticipating a greater chance of further interest rate hikes by BOE, with at least one increase projected by the end of 2026.
JPYINR
SELL JPYINR APR @ 59 SL 59.3 TGT 58.7-58.4.
Observations
JPYINR trading range for the day is 58.97-59.07.
JPY slipped as the dollar and oil recovered amid ongoing uncertainty over the US-Iran ceasefire.
Japanese FM said market turmoil has underscored how sharply interest rates can be driven by volatility spilling over from other markets.
Markets are now closely watching for any signals from BOJ Governor Ueda ahead of the April 28 policy announcement.
