SELL USDINR AUG @ 87.6 SL 87.75 TGT 87.42-87.25. - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.6 SL 87.75 TGT 87.42-87.25.
Observations
USDINR trading range for the day is 87.11-88.03
Rupee nudged higher supported by likely intervention from the Reserve Bank of India.
Rupee logged its worst weekly drop since late 2022 due to worries over U.S. tariffs and sustained foreign portfolio outflows.
Fitch Ratings has lowered India’s FY26 GDP growth forecast to 6.3% from its earlier 6.4%.
EURINR
BUY EURINR AUG @ 100 SL 99.7 TGT 100.3-100.6.
Observations
EURINR trading range for the day is 99.64-100.84.
Euro dropped as investors are assessing the impact of newly announced US tariff rates, unveiled last night.
The EU now faces a 15% tariff on its exports to the US after reaching a last-minute deal just ahead of the August 1 deadline.
Markets are pricing in a 90% probability of a 25 bps rate cut by the ECB by March 2026.
GBPINR
BUY GBPINR AUG @ 115.3 SL 115 TGT 115.6-115.8.
Observations
GBPINR trading range for the day is 114.84-116.3.
GBP dropped as concerns about the UK’s economic outlook and expected rate cuts weighed on sentiment.
UK Manufacturing PMI rose to 48 in July of 2025 from 47.7 in June, revised lower from the flash estimate of 48.2.
Markets are pricing in two more interest rate cuts from the BOE this year, compared to a much lower likelihood of cuts from Fed.
JPYINR
BUY JPYINR AUG @ 58.4 SL 58.2 TGT 58.6-58.8.
Observations
JPYINR trading range for the day is 57.97-59.17.
JPY dropped as the dollar held firm following President Donald Trump’s latest tariff actions.
Japan Manufacturing PMI was slightly revised higher to 48.9 in July 2025 from the preliminary estimate of 48.8
The Bank of Japan kept interest rates unchanged but raised its inflation forecast for the current fiscal year
