Sell USDINR Jun @ 83.5 SL 83.6 TGT 83.36-83.25 - Kedia Advisory
![](https://portfolio.investmentguruindia.com/uploads/news/Kedia Currency.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
USDINR
Observations
USDINR trading range for the day is 83.31-83.57.
Rupee steadied boosted by portfolio inflows
Improved odds of rate cuts by the Federal Reserve later this year further supported the currency.
Investors are currently pricing in a 67% chance of a rate cut in September, up from about 61% a day earlier
SELL USDINR JUN @ 83.5 SL 83.6 TGT 83.36-83.25.
EURINR
Observations
EURINR trading range for the day is 89.38-89.82.
Euro dropped as market participants are actively monitoring the political situation in France.
The ECB recently implemented its first rate cut in five years but is adopting a cautious stance towards any additional cuts.
Wages in the Eurozone rose 5.3% year-on-year in Q1, the most since Q4 of 2022.
BUY EURINR JUN @ 89.4 SL 89.2 TGT 89.6-89.8.
GBPINR
Observations
GBP surged due to a weaker dollar after softer US inflation data reinforced the view that the Fed will deliver its first rate cut in September.
GBP edged up after inflation in the UK fell back to the central bank's 2% target in May as expected
Core inflation also eased to 3.5% from 3.9%, in line with forecasts, and services inflation was down to 5.7% from 5.9%, above expectations of 5.5%.
The Bank of England recently said that inflation hitting the target alone won't prompt interest rate cuts.
BUY GBPINR JUN @ 105.8 SL 105.5 TGT 106.1-106.4.
JPYINR
Observations
JPYINR trading range for the day is 52.84-53.34.
JPY dropped as BOJ Governor told the Japanese parliament that they could raise interest rates again at the July meeting.
BoJ Members discuss policy normalization amid weak yen
Japan's trade deficit decreased to JPY 1,221 billion in May 2024 from JPY 1,382 billion in the same month of the prior year
SELL JPYINR JUN @ 53.2 SL 53.4 TGT 53-52.8.
![](https://portfolio.investmentguruindia.com/uploads/news/Airtel5.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Haleon26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker_5.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Broker _23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/SN Subrahmanyan.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar_011424.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Stock 001.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/ISRO26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Nazara26.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)