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USDINR

Observations

USDINR trading range for the day is 83.29-83.45.

Rupee ticked higher aided by likely dollar inflows and forward premiums rose amid a drop in U.S. Treasury yields.

The Indian government sought parliament's approval for additional spending of 1.29 trillion rupees in the current fiscal year

India's economy to grow at 6.8 per cent in current fiscal: CII

SELL USDINR DEC @ 83.5 SL 83.65 TGT 83.35-83.2.

EURINR

Observations

EURINR trading range for the day is 89.79-90.29.

Euro seen pressure as major eurozone economies experienced a decline in business activity

Factory orders in Germany declined 3.7% month-over-month in October 2023

November's Eurozone composite PMI arrived at 47.6 vs. 47.1 prior, above the market consensus of 47.1.

SELL EURINR DEC @ 90.1 SL 90.3 TGT 89.9-89.7.

GBPINR

Observations

GBPINR trading range for the day is 104.8-105.3.

GBP fell as traders mulled what the Bank of England might signal at its next policy meeting

BOE Bailey said the central bank "will do what it takes" to get inflation down to its 2% target

Market attention has shifted in recent weeks to when the BoE will commence rate cuts.

SELL GBPINR DEC @ 105.1 SL 105.4 TGT 104.75-104.5.

JPYINR

Observations

JPYINR trading range for the day is 56.59-57.01.

JPY dropped after Japan Services PMI was revised downward to 50.8 in November 2023

BOJ's Himino: No preset schedule in mind on exit from ultra – easy policy

Sentiment index for manufacturers in Japan jumped to +12 in December 2023 from +6 in November

JPYINR JAN-DEC 0.3525 SELL JPYINR DEC @ 56.95 SL 57.15 TGT 56.75-56.6.