SELL USDINR JUL @ 85.8 SL 85.95 TGT 85.65-85.55 - Kedia Advisory
USDINR
SELL USDINR JUL @ 85.8 SL 85.95 TGT 85.65-85.55.
Observations
USDINR trading range for the day is 85.52-85.9.
Rupee ended little changed as traders steered clear of aggressive directional bets on the currency.
U.S. President Donald Trump announced a 50% tariff on U.S. copper imports and a 50% duty on goods from Brazil, both to start on August 1.
Dollar-rupee forward premiums were little changed on the day, showing little support for an interest rate cut later this month.
EURINR
SELL EURINR JUL @ 100.75 SL 101 TGT 100.5-100.2.
Observations
EURINR trading range for the day is 100.5-100.72.
Euro remained in range amid escalating trade tensions sparked by Washington.
The annual inflation rate in Germany fell to 2% in June 2025, the lowest in eight months, from 2.1% in each of the previous two months
The Eurozone’s trade surplus narrowed to €9.9 billion in April 2025, down from €13.6 billion a year earlier.
GBPINR
SELL GBPINR JUL @ 116.8 SL 117.1 TGT 116.5-116.2.
Observations
GBPINR trading range for the day is 116.46-116.84.
GBP steadied as investors await developments regarding US trade negotiations.
US President Trump has announced new reciprocal tariffs for 21 nations, which will be effective from August 1.
The BoE warns of economic risks amid geopolitical tensions and increasing national debt.
JPYINR
SELL JPYINR JUL @ 59.25 SL 59.5 TGT 59-58.75.
Observations
JPYINR trading range for the day is 58.77-59.11.
JPY dropped on profit booking gained earlier as the US dollar weakened amid a sharp drop in Treasury yields.
US-Japan trade talks have stalled, particularly over Japan’s protection of its rice market.
Producer prices in Japan rose 2.9% yoy in June 2025, slowing from a marginally revised 3.2% growth in the prior month.
