Sell USDINR Jun @ 94.6 SL 94.8 TGT 94.4-94.2 - Kedia Advisory
USDINR
SELL USDINR JUN @ 94.6 SL 94.8 TGT 94.4-94.2.
Observations
USDINR trading range for the day is 93.94-94.98.
Rupee retreating from recent gains as the US dollar strengthened after the Federal Reserve concluded its latest policy meeting.
FOMC updated projections signaled a notable shift in policymakers’ expectations.
Meanwhile, crude oil prices continued to move lower after the United States and Iran reached an interim agreement to halt the conflict.
EURINR
SELL EURINR JUN @ 108.6 SL 108.9 TGT 108.3-108.
Observations
EURINR trading range for the day is 107.63-109.83.
Euro dropped amid broad dollar strength as traders reacted to a more hawkish stance from the US Federal Reserve.
Markets are now pricing in at least one additional ECB rate increase before year-end.
US President Donald Trump warning of potential renewed attacks and targeted actions against Iranian officials if the agreement’s terms were not upheld.
GBPINR
SELL GBPINR JUN @ 125 SL 125.3 TGT 124.7-124.4.
Observations
GBPINR trading range for the day is 123.75-127.05.
GBP dropped as investors assessed fresh UK labor data and the Makerfield by-election results, which could influence Labour’s leadership and economic agenda.
Bank of England maintains bank rate at 3.75% as expected
The UK unemployment rate fell to 4.9% in the three months to April 2026, defying expectations that it would remain at 5.0%.
JPYINR
SELL JPYINR JUN @ 59.3 SL 59.5 TGT 59.1-58.9.
Observations
JPYINR trading range for the day is 59.00-59-60.
JPY weakened amid heightening speculation that authorities could once again intervene to support the currency.
Japan ready to respond 'appropriately' to yen moves, government spokesperson says
Dollar strengthened after the US Federal Reserve kept interest rates unchanged while signaling growing support for rate hikes later this year.
