Sell USDINR Jul @ 95.15 SL 95.35 TGT 94.9-94.7 - Kedia Advisory
USDINR
SELL USDINR JUL @ 95.15 SL 95.35 TGT 94.9-94.7.
Observations
USDINR trading range for the day is 94.71-95.71.
Rupee notched its biggest single-session gain in three weeks, boosted by a spurt in dollar selling in the non-deliverable forward market.
Investors have continued to pare back expectations of U.S. rate hikes this year following an underwhelming jobs report that came in far below expectations.
Money markets are now pricing in roughly 29 bps worth of Fed rate hikes by December, down from about 38 bps a week ago.
EURINR
SELL EURINR JUL @ 109 SL 109.3 TGT 108.7-108.4.
Observations
EURINR trading range for the day is 108.29-109.73.
Euro remained in range as investors processed fresh economic data while awaiting new catalysts
Germany's industrial production rose 0.9% in May 2026, surpassing market expectations and accelerating from April's revised 0.2% increase.
Investor morale in the euro zone currency area improved significantly more than expected in July.
GBPINR
SELL GBPINR JUL @ 128.5 SL 128.8 TGT 128-127.6.
Observations
GBPINR trading range for the day is 128-128.8.
GBP steadied as the dollar recovered some strength following a selloff last week after soft U.S. jobs data.
The Lloyds House Price Index showed UK house prices rose 0.6% year-on-year in June 2026, following a 0.5% increase in May.
BoE Governor Andrew Bailey said the central bank was not in a position to consider cutting interest rates.
JPYINR
SELL JPYINR JUL @ 59 SL 59.3 TGT 58.7-58.5.
Observations
JPYINR trading range for the day is 58.96-58.96.
JPY dropped as investors continued to bet against the currency amid the absence of intervention from Japanese authorities.
Meanwhile, concerns over Japan’s fiscal expansion and expectations that BOJ is still lagging behind in normalizing monetary policy.
Japan’s foreign reserves fell by USD 18.40 billion to USD 1.287 trillion at the end of June 2026 from USD 1.306 trillion in May.
