SELL USDINR AUG @ 87.6 SL 87.8 TGT 87.4-87.3. - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.6 SL 87.8 TGT 87.4-87.3.
Observations
USDINR trading range for the day is 87.19-87.93.
Rupee gained as softer U.S. inflation data bolstered hopes of Fed rate cut in September.
U.S. inflation data showed consumer prices rose modestly in July, with impact from recent tariffs staying limited.
Reports of a potential meeting between PM Modi and US President Trump next month lifted hopes for resolving the tariff standoff.
EURINR
SELL EURINR AUG @ 102.7 SL 103 TGT 102.4-102.1.
Observations
EURINR trading range for the day is 102.02-103.16.
Euro gained as the dollar weakened to its lowest since late July.
Eurozone GDP grew 0.1% in Q2, with inflation steady at 2% in July.
European and Ukrainian leaders are scheduled to speak with President Trump ahead of his summit with Russian President Putin.
GBPINR
SELL GBPINR AUG @ 118.8 SL 119.1 TGT 118.5-118.2.
Observations
GBPINR trading range for the day is 117.95-119.39.
GBP rose after UK labour data showed smaller-than-expected job losses in July, easing concerns about the economy.
The US dollar weakened on inflation data fueling bets on a September Fed rate cut.
Unemployment remained at 4.7%, while private-sector wage growth eased slightly to 4.8.
JPYINR
SELL JPYINR AUG @ 59.7 SL 59.9 TGT 59.5-59.3.
Observations
JPYINR trading range for the day is 59.13-60.11.
JPY gains as dollar dropped as US inflation data bolstered expectations for a Fed interest rate cut next month.
The Reuters Tankan index for Japanese manufacturers climbed to +9 in August 2025.
Some officials favored keeping policy accommodative for now, citing uncertainty over whether the bank’s economic forecasts will materialize.
