SELL USDINR JUN @ 85.7 SL 85.85 TGT 85.6-85.5 - Kedia Advisory
USDINR
SELL USDINR JUN @ 85.7 SL 85.85 TGT 85.6-85.5.
Observations
USDINR trading range for the day is 85.42-85.7.
Rupee nudged higher aided by mild U.S. dollar sales by foreign banks and U.S. and China agreed to ease trade tensions.
World Bank retains India’s FY26 growth at 6.3% amid global uncertainties.
India and the United States have made marked progress toward a long-awaited interim trade deal.
EURINR
SELL EURINR JUN @ 98 SL 98.2 TGT 97.7-97.5.
Observations
EURINR trading range for the day is 97.45-98.23.
Euro steadied as amid easing tariff tensions between the US and China.
Eurozone inflation eased to 1.9% in May 2025 and bloc’s economy expanded by 0.6% in Q1 2025, the fastest growth rate since Q3 2022.
ECB’s Villeroy noted that the ECB could still act swiftly to adjust interest rates, even after its eighth consecutive cut.
GBPINR
SELL GBPINR JUN @ 115.7 SL 116 TGT 115.4-115.1.
Observations
GBPINR trading range for the day is 115.18-115.66.
GBP dropped as soft UK labour market data bolstered investors' bets for more rate cuts this year from the BOE.
Pay growth slowed sharply while the unemployment rate rose to its highest level in nearly four years in the three months to April.
BOE is mostly expected to leave interest rates unchanged, market odds for a rate cut in August have increased.
JPYINR
SELL JPYINR JUN @ 59.6 SL 59.8 TGT 59.4-59.2.
Observations
JPYINR trading range for the day is 58.75-59.81.
JPY decline as optimism over US–China trade negotiations reduced demand for safe-haven assets.
Japan's annual wholesale inflation slowed in May on falling import costs for raw materials.
Japan’s producer prices rose 3.2% year-over-year in May, the slowest pace of growth in eight months
