Sell USDINR Aug @ 83.85 SL 83.95 TGT 83.75-83.65 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.73-83.85.
Rupee remained in range on outflows from local equities, volatility in the yuan and persistent dollar bids.
Federal Reserve signals first cut in September
Despite the weakness, interventions from the RBI have ensured that volatility remained subdued.
SELL USDINR AUG @ 83.85 SL 83.95 TGT 83.75-83.65.
EURINR
Observations
EURINR trading range for the day is 90.61-91.03.
Euro steadied as fresh key economic data did little to change traders bets for an ECB rate cut in September.
Germany's seasonally adjusted jobless rate stood at 6% in July 2024, the highest since May 2021
Eurozone economy expanded at a faster-than-expected 0.3% in Q2
SELL EURINR AUG @ 90.9 SL 91.1 TGT 90.7-90.5.
GBPINR
Observations
GBPINR trading range for the day is 107.37-107.81.
GBP fell in anticipation of the Bank of England's upcoming monetary policy decision.
Traders raise BoE rate-cut bets despite stubborn UK service inflation.
Investors see the Fed delivering a dovish interest rate guidance.
SELL GBPINR AUG @ 107.8 SL 108.1 TGT 107.5-107.3.
JPYINR
Observations
JPYINR trading range for the day is 54-56.86.
JPY gains as the Bank of Japan raised its policy rate to 0.25%.
The central bank said it will reduce its monthly bond purchases to about 3 trillion yen per month in the first quarter of 2026.
Japan’s retail sales growth hit a four-month high in June
BUY JPYINR AUG @ 55.7 SL 55.5 TGT 56-56.2.
