SELL USDINR FEB @ 90.8 SL 91 TGT 90.6-90.5 - Kedia Advisory
USDINR
SELL USDINR FEB @ 90.8 SL 91 TGT 90.6-90.5.
Observations
USDINR trading range for the day is 90.37-90.99.
Rupee slipped as dollar bids from foreign banks picked up.
India’s economic resilience holds despite soft patches; FY26 growth seen at 7.4% - Fitch report India's economy is set for strong growth, projected at 6.4% by Moody's for fiscal 2026-27.
EURINR
SELL EURINR FEB @ 108.25 SL 108.5 TGT 108-107.75.
Observations
EURINR trading range for the day is 107.69-108.67.
Euro gains as dollar dropped after weaker-than-expected US retail sales data strengthened expectations for Fed interest rate cuts.
The Sentix index measuring investor morale in the euro zone rose unexpectedly in February, its third consecutive monthly gain.
Euro zone inflation to take hit from tariffs but rate cuts could offset
GBPINR
SELL GBPINR FEB @ 124.4 SL 124.7 TGT 124.1-123.8.
Observations
GBPINR trading range for the day is 123.54-124.82.
GBP gains despite UK political risks rise, with Prime Minister Starmer facing resignation pressure.
The BoE looks closer to another rate cut as forecasts show inflation falling below the 2% target by April.
BoE policymaker Catherine Mann said that US tariffs are pushing UK inflation higher through Chinese export pricing.
JPYINR
SELL JPYINR FEB @ 59.6 SL 59.8 TGT 59.4-59.2.
Observations
JPYINR trading range for the day is 58.48-60.48.
JPY gains supported by optimism that PM Takaichi’s policy agenda could strengthen economic growth
JPY was supported by concerns that Japanese authorities could step in to curb speculative selling in the foreign exchange market.
JPY also benefited from a softer dollar after weaker US economic data reinforced expectations for Federal Reserve rate cuts.
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