IGI Logo

USDINR

Observations

USDINR trading range for the day is 84.38-84.7.

Rupee declined pressured by strong dollar demand related to the expiry monthly futures contract and month-end payments by importers.

FOMC minutes indicated that the policymakers are taking a cautious approach to cutting interest rates as inflation is easing and the labor market remains strong.

Dollar-rupee forward premiums rose, supported by a dip in near-maturity U.S. bond yields and the dollar-rupee overnight swap rate.

SELL USDINR DEC @ 84.6 SL 84.7 TGT 84.5-84.42.

EURINR

Observations

EURINR trading range for the day is 88.55-89.79.

Euro gains after ECB official Isabel Schnabel cautioned against excessive rate cuts.

Investors' euro zone inflation expectations fall below 2% for first time since 2022

German business morale fell more than expected in November, a survey showed.

SELL EURINR DEC @ 89.5 SL 89.7 TGT 89.3-89.1.

GBPINR

Observations

GBPINR trading range for the day is 106.07-107.25.

GBP recovers cautiously amid growing worries over the impact of Trump’s tariffs policies on UK export sector.

Most BOE policymakers support a gradual policy-easing approach.

BoE’s Lombardelli said she needs to see more evidence before the next rate cut.

BUY GBPINR DEC @ 106.8 SL 106.5 TGT 107.1-107.4.

JPYINR

Observations

JPYINR trading range for the day is 55.13-56.81. 

JPY strengthens as Trump’s tariff threats continue to drive some haven flows

Data showed broadening service-sector inflation in Japan, keeping the door open for another rate hike by the Bank of Japan.

Japanese PM Ishiba said that he would ask companies to implement significant wage hikes at the annual "Shunt?" negotiations next spring.

SELL JPYINR DEC @ 56.25 SL 56.45 TGT 56-55.8