Sell USDINR Jun @ 94.4 SL 94.6 TGT 94.2-94 - Kedia Advisory
USDINR
SELL USDINR JUN @ 94.4 SL 94.6 TGT 94.2-94.
Observations
USDINR trading range for the day is 94.07-94.71.
Rupee edged lower tracking weakness in Asian peers as the dollar firmed on a hawkish turn from Fed and as oil prices rose above key $80 level.
India's unemployment rate saw an increase in May, reaching 5.5%, from April’s 5.2%.
India's merchandise exports reached a record $45.2 billion in May. Imports also grew, leading to a trade deficit of $28.21 billion.
EURINR
SELL EURINR JUN @ 108.6 SL 108.9 TGT 108.3-108.
Observations
EURINR trading range for the day is 107.85-108.81.
Euro dropped as investors adopted a more cautious stance following a pivotal week that featured a landmark US-Iran peace agreement.
Euro zone's adjusted current account surplus widened a touch in April following an increase in exports and in the trade surplus.
IMF cuts 2026 euro zone growth forecast with higher inflation, warns worse could come
GBPINR
SELL GBPINR JUN @ 125 SL 125.3 TGT 124.7-124.4.
Observations
GBPINR trading range for the day is 123.73-125.79.
GBP steadied amid stronger dollar, political uncertainty, shifting global risk appetite
Bailey says higher inflation is coming despite Iran deal
BoE trims Q4 inflation forecast to "a little over 3.25%"
JPYINR
SELL JPYINR JUN @ 59.3 SL 59.5 TGT 59.1-58.9.
Observations
JPYINR trading range for the day is 58.11-59.77.
JPY weakened despite renewed verbal intervention from Japanese authorities.
Dollar strengthened following the Fed signaling increasing support for additional rate hikes later this year.
Bank of Japan will continue raising interest rates while closely monitoring the risk that underlying inflation could exceed its 2% target.
