Sell USDINR Jul @ 95.6 SL 95.8 TGT 95.3-95.2 - Kedia Advisory
USDINR
SELL USDINR JUL @ 95.6 SL 95.8 TGT 95.3-95.2.
Observations
USDINR trading range for the day is 94.85-96.03.
Rupee declined as market flows related to arbitrage trades and merchant payments pinched the currency
Although lower energy prices offered temporary relief by easing concerns over India's import bill, traders remained cautious.
RBI was reportedly seen selling US dollars near the 94.75 level, but the currency continued to weaken after the intervention eased.
EURINR
SELL EURINR JUL @ 109.3 SL 109.6 TGT 109-108.7.
Observations
EURINR trading range for the day is 108.12-109.8.
Euro gains as investors digested softer-than-expected Eurozone inflation data, with the flash CPI report showing headline inflation falling to 2.8% in June.
ECB President Christine Lagarde noted that risks to inflation and growth in the euro area have become less pronounced.
Eurozone Manufacturing PMI declined to 51.4 in June 2026 from 51.6 in May, broadly aligning with the preliminary estimate of 51.3.
GBPINR
SELL GBPINR JUL @ 127.6 SL 127.9 TGT 127-3127.
Observations
GBPINR trading range for the day is 126.04-128.42.
GBP gained amid hopes of continuation of UK fiscal principles despite leadership change.
British business confidence fell to its lowest since 2022 as the Iran war, which pushed up costs, saps expectations for future sales.
Money markets show a 90% chance of a BoE hike by year-end
JPYINR
SELL JPYINR JUL @ 59.4 SL 59.6 TGT 59.2-59.
Observations
JPYINR trading range for the day is 59.09-59.55.
JPY rebounds as traders stayed on high alert for possible currency intervention.
Finance Minister Katayama said that authorities would respond appropriately to currency market developments at any time, reiterating previous warnings.
Investors remain skeptical that the Bank of Japan will accelerate policy tightening as it continues along its gradual normalization path.
