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 90.84-91.02
Rupee closed modestly weaker weighed down by a drop in local stocks and strong dollar demand from the non-deliverable forwards market.
RBI minutes signal firmer growth path, muted price pressures after February hold
India's GDP growth is expected to slow to 7.2 percent in the third quarter of fiscal year 2025-26 – ICRA
EURINR
SELL EURINR FEB @ 107.3 SL 107.6 TGT 107-106.8.
Observations
EURINR trading range for the day is 106.89-107.61.
Euro steadied after the European Parliament paused the ratification process of the US-EU trade deal agreed with US President Donald Trump last July in Scotland.
Uncertainty lingered over whether the new 15% rate would take effect imminently in the UK or EU. Investors now await inflation data from Germany,
France, and Spain for clearer signals on how euro strength may affect price pressures.
GBPINR
SELL GBPINR FEB @ 122.9 SL 123.2 TGT 122.6-122.4.
Observations
GBPINR trading range for the day is 122.42-122.96.
GBP dropped as investors weighed mixed economic data and added to bets on Bank of England interest rate cuts.
US President Donald Trump announced plans to lift a temporary global tariff to 15% from 10%, after the Supreme Court blocked his broader tariff measures.
UK PMI showed private-sector activity expanding in February at its fastest pace since April 2024, while January retail sales exceeded expectations.
JPYINR
SELL JPYINR FEB @ 58.6 SL 58.8 TGT 58.4-58.2.
Observations
JPYINR trading range for the day is 58.07-59.07.
JPY weakened as the dollar found support despite ongoing US trade uncertainties.
US President Donald Trump threatened to raise global tariffs from 10% to 15% following a Supreme Court ruling striking down his reciprocal tariffs.
Tokyo urged Washington to ensure the ruling would not harm Japanese firms and reaffirmed its commitment to the US trade deal.
