Sell USDINR Feb @ 91 SL 91.2 TGT 90.8-90.6 - Kedia Advisory
USDINR
SELL USDINR FEB @ 91 SL 91.2 TGT 90.8-90.6.
Observations
USDINR trading range for the day is 90.71-91.15.
Rupee weakened toward 91 per dollar, hitting its weakest level in over two weeks, weighed by broad dollar strength.
The HSBC India Manufacturing PMI rose to 57.5 in February 2026 from 55.4 in January, preliminary estimates showed.
The HSBC India Services PMI edged down to 58.4 in February 2026 from 58.5 in January, pointing to a slightly slower but still expansion.
EURINR
BUY EURINR FEB @ 107 SL 106.7 TGT 107.3-107.5
Observations
EURINR trading range for the day is 106.7-107.44.
Euro dropped as the US dollar strengthened on unexpectedly hawkish signals from the Federal Reserve.
In the euro area, investors assessed reports that Christine Lagarde could step down early as head of the European Central Bank.
With euro area inflation broadly contained, the ECB is widely expected to keep interest rates unchanged for the remainder of the year.
GBPINR
BUY GBPINR FEB @ 122.5 SL 122.2 TGT 122.8-123.
Observations
GBPINR trading range for the day is 122.05-123.09.
GBP dropped as investors assessed fresh inflation data and its implications for the Bank of England’s policy path.
UK inflation slowed to 3.0% in January, the lowest since March 2025, largely due to weaker transport and food price growth.
Markets are fully pricing in a 25-basis-point reduction by April, with a more than a 75% chance of a move as early as March.
JPYINR
BUY JPYINR FEB @ 58.6 SL 58.4 TGT 58.8-59
Observations
JPYINR trading range for the day is 58.45-58.89.
JPY dropped as both headline and core inflation rates slowed in January amid government measures to ease cost-of-living pressures.
Japan’s Manufacturing PMI rose to 52.8 in February 2026 from 51.5 in January, marking the strongest expansion since May 2022.
Japan’s Services PMI inched up to 53.8 in February 2026 from 53.7 in the previous month.
