Sell USDINR Jul @ 95.7 SL 95.9 TGT 95.5-95.3 - Kedia Advisory
USDINR
SELL USDINR JUL @ 95.7 SL 95.9 TGT 95.5-95.3.
Observations
USDINR trading range for the day is 95.22-96.02.
Rupee was shored up by likely central bank intervention after renewed hostilities in the Middle East pushed the currency to a one-month low.
Minutes from the Federal Reserve showed concerns about mounting inflation among policymakers.
The Asian Development Bank has lowered India's FY27 growth forecast to 6.6 percent.
EURINR
SELL EURINR JUL @ 109.4 SL 109.8 TGT 109.1-108.8.
Observations
EURINR trading range for the day is 109.06-109.66.
Euro steadied as expectations rose for another European Central Bank interest rate hike in September.
Germany's trade surplus widened to €19.1 billion in May 2026 from an upwardly revised €14.7 billion in April, surpassing expectations of €14.8 billion.
Traders are now pricing in over 30 basis points of additional ECB tightening this year, signaling at least one potential rate hike.
GBPINR
SELL GBPINR JUL @ 128.5 SL 128.8 TGT 128-127.6.
Observations
GBPINR trading range for the day is 127.98-128.8.
GBP remained in range as traders increased bets on Bank of England rate hikes amid rising US-Iran tensions.
The RICS UK Residential Market Survey showed that the house price balance edged up to -33% in June 2026 from -34% in May
Investors now fully price in a 25-basis-point BoE rate hike by year-end, up from a 75% probability before Trump’s remarks.
JPYINR
SELL JPYINR JUL @ 59.4 SL 59.6 TGT 59.2-59.
Observations
JPYINR trading range for the day is 59.37-59.45.
JPY gains as widely suspected to have been the result of stealth Japanese intervention
Japan’s government revised its latest draft of the annual policy agenda, calling for appropriate monetary policy that supports stable price growth.
Japan's current account surplus stood at 3.97 trillion yen ($24.46 billion) in May, Ministry of Finance data showed.
