SELL USDINR AUG @ 87.75 SL 87.9 TGT 87.6-87.5. - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.75 SL 87.9 TGT 87.6-87.5.
Observations
USDINR trading range for the day is 87.44-87.94.
Rupee ended lower as trade tensions between India and US escalated following Trump's call for new tariffs on Indian goods.
US President Trump's 25% tariff hike on Indian imports, totaling 50%, threatens India's FY26 GDP growth by up to 0.4%.
India's forex reserves down by $9.32 billion to $688.87 billion as of August 1
EURINR
SELL EURINR AUG @ 102.3 SL 102.6 TGT 102-101.
Observations
EURINR trading range for the day is 101.85-102.65
Euro settled flat as investors mulled the diverging interest rate outlooks for the European Central Bank and U.S. Federal Reserve.
Investors also assessed shifting global trade dynamics after President Trump’s sweeping retaliatory tariffs took effect on Thursday.
Traders expect the ECB to leave euro zone rates at 2% until well into 2026, while shifts in U.S. data have prompted a surge in bets on at least two Fed rate cuts.
GBPINR
SELL GBPINR AUG @ 118 SL 118.3 TGT 117.7-117.5.
Observations
GBPINR trading range for the day is 117.45-118.29.
GBP gains as traders continued to interest rates cut to 4% as well as the central bank's first ever re-vote.
Bank of England's Pill sees risks that could slow pace of rate cuts.
Traders are placing a 93% chance of no change to the bank rate at the BoE's next meeting in September
JPYINR
SELL JPYINR AUG @ 59.5 SL 59.7 TGT 59.3-59.1.
Observations
JPYINR trading range for the day is 59.41-59.41.
JPY dropped as BOJ’s minutes showed policymakers split on the timing and pace of future rate
Japan’s household spending rose 1.3% year-on-year in June 2025, down sharply from a 4.7% increase in May.
Japan’s current account surplus decreased to JPY 1,348.2 billion in June 2025 from JPY 1,763.5 billion in the same month a year earlier.
