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USDINR

SELL USDINR JUL @ 95.8 SL 96 TGT 95.6-95.4.

Observations

USDINR trading range for the day is 94.87-96.27.

Rupee weakened, retreating after a brief stabilization as renewed Middle East tensions lifted global oil prices and strengthened the US dollar.

Market sentiment deteriorated after the US launched fresh strikes on Iran and revoked a license permitting Iranian oil sales following attacks on three tankers.

India's foreign exchange reserves experienced a significant dip of $5.65 billion, reaching $666.93 billion

EURINR

SELL EURINR JUL @ 109.4 SL 109.8 TGT 109.1-108.8.

Observations

EURINR trading range for the day is 108.55-109.83.

Euro gained amid Rupee weakness amid renewed tensions in the Middle East.

Euro zone inflation came in lower than expected in June, causing markets to trim their bets on European Central Bank rate hikes.

Markets increased their expectations for ECB tightening, with implied rate hikes rising to around 32bps from 25bps the previous day.

GBPINR

SELL GBPINR JUL @ 128.5 SL 128.8 TGT 128-127.6.

Observations

GBPINR trading range for the day is 127.81-128.93.

GBP dropped as rising oil prices stoked inflation concerns and boosted bets on Bank of England rate hikes, darkening the UK’s economic outlook.

BOE Governor Bailey reiterated that inflation remains on track to hit 2%, though later than previously forecast, and ruled out near-term rate cuts.

UK Manufacturing PMI posted 52.5 in June, down from May's four-year high of 53.9 and the earlier flash estimate of 53.1.

JPYINR

SELL JPYINR JUL @ 59.1 SL 59.3 TGT 58.9-58.7.

Observations

JPYINR trading range for the day is 59.05-59.05.

JPY gained amid Rupee weakness after fresh US air strikes on Iran in response to recent attacks on ships.

Japan’s bank lending rose 5.7% year-on-year in June 2026, falling slightly short of market forecasts for a 5.8% increase.

Japan’s current account surplus increased to JPY 3,968.3 billion in May 2026 from JPY 3,320.5 billion in the same month a year earlier.