SELL USDINR JUL @ 86.8 SL 86.95 TGT 86.65-86.5. - Kedia Advisory
USDINR
SELL USDINR JUL @ 86.8 SL 86.95 TGT 86.65-86.5.
Observations
USDINR trading range for the day is 86.1-87.3.
Rupee weakened, the lowest in one month as traders considered a dovish RBI and the pessimistic trade outlook with the US.
India's trade delegation noted that an interim deal with the US looks difficult before the August 1st deadline.
Consumer inflation fell to a six-year low of 2.1%, to test the lower bound of the RBI's inflation tolerance band of 2%.
EURINR
SELL EURINR JUL @ 101.1 SL 101.4 TGT 100.8-100.5.
Observations
EURINR trading range for the day is 100.53-102.07
Euro weakened its lowest level in a week, under pressure from broad dollar strength as traders responded to the newly announced US-EU trade deal.
The deal includes a 15% tariff on most European goods, significantly lower than the 30% originally threatened by Washington.
The ECB has already delivered four rate cuts this year, lowering the deposit rate from a 4% peak in 2024 to 2% as of June.
GBPINR
SELL GBPINR JUL @ 116.6 SL 116.9 TGT 116.3-116.
Observations
GBPINR trading range for the day is 115.96-116.68.
GBP dropped as dollar rose supported by easing trade tensions following the newly announced US-EU trade agreement.
Weak UK data shifted market focus from inflation to slowing growth while trade optimism lifted the US currency.
The GfK Consumer Confidence Index for the UK edged down to -19 in July 2025 from -18 in June, slipping from a six-month high
JPYINR
SELL JPYINR JUL @ 58.7 SL 58.9 TGT 58.5-58.3.
Observations
JPYINR trading range for the day is 58.61-58.63.
JPY settled flat amid a wave of trade agreements between the US and key partners
Bank of Japan is set to announce its latest monetary decision this week.
Japanese Prime Minister Ishiba declared his intention to remain in office despite mounting pressure from within the ruling LDP to resign
