SELL USDINR JUL @ 86.05 SL 86.2 TGT 85.9-85.8 - Kedia Advisory
USDINR
SELL USDINR JUL @ 86.05 SL 86.2 TGT 85.9-85.8.
Observations
USDINR trading range for the day is 85.73-86.25.
Rupee weakened past the 86 to its lowest level in more than two weeks amid uncertainty over U.S. trade policies.
India’s wholesale prices unexpectedly fell by 0.13% yoy in June 2025, missing forecasts of a 0.52% increase.
India's foreign exchange reserves experienced a decline of $3.04 billion, reaching $699.74 billion.
EURINR
SELL EURINR JUL @ 100.7 SL 101 TGT 100.4-100.1.
Observations
EURINR trading range for the day is 100.31-100.87.
Euro gains as wekness in Rupee support after pressure as Trump announced a 30% tariff on imports from EU, effective August 1.
European Union confirmed it will extend its suspension of countermeasures against US tariffs until early August.
ECB is expected to keep rates steady at its upcoming meeting, though markets still anticipate at least one more rate cut later this year.
GBPINR
SELL GBPINR JUL @ 116.2 SL 116.5 TGT 115.9-115.6.
Observations
GBPINR trading range for the day is 115.74-116.4.
GBP dropped after BOE Governor signaled the central bank is prepared to make deeper interest rate cuts if the labor market weakens further.
Bailey said the UK economy is underperforming its potential, creating slack that should help ease inflation.
Britain announced it will finalize a deal with Vietnam to remove barriers for UK pharmaceutical companies
JPYINR
SELL JPYINR JUL @ 58.8 SL 59 TGT 58.6-58.4.
Observations
JPYINR trading range for the day is 58.58-59.08.
JPY dropped as investors responded to renewed global trade concerns.
Japan’s core machinery orders fell 0.6% month-over-month to ¥913.5 billion in May.
Producer prices in Japan rose 2.9% yoy in June 2025, slowing from a marginally revised 3.2% growth in the prior month
