Sell USDINR Jun @ 94.8 SL 95 TGT 94.6-94.4 - Kedia Advisory
USDINR
SELL USDINR JUN @ 94.8 SL 95 TGT 94.6-94.4.
Observations
USDINR trading range for the day is 94.45-95.07.
Rupee ended modestly weaker as a churn in U.S. rate expectations boosted the dollar to a one-year peak.
India's HSBC Manufacturing PMI fell to 54.5 in June 2026, a three-month low, down from 55.0 in May, preliminary estimates showed.
India Services PMI declined to 57.3 in June 2026 from May’s six-month high of 58.9, preliminary data showed.
EURINR
SELL EURINR JUN @ 108.3 SL 108.6 TGT 108-107.7.
Observations
EURINR trading range for the day is 107.86-108.86.
Euro weakened, amid broad US dollar strength on expectations that Fed will raise interest rates later this year.
ECB Lagarde said the central bank does not need to respond more aggressively to developments stemming from the Middle East conflict.
Global Flash Germany Composite PMI fell to 48 in June 2026 from 48.8 in May, missing market expectations of 49.9.
GBPINR
SELL GBPINR JUN @ 125.5 SL 125.8 TGT 125.2-125.
Observations
GBPINR trading range for the day is 124.9-126.
GBP steadied as investors balanced easing political uncertainty with weaker UK economic data.
Investors welcomed signs that a prolonged Labour leadership contest was becoming less likely after Keir Starmer announced his resignation.
June flash PMI data showed a weaker picture, with the composite index falling to a 14-month low of 49.4, below expectations.
JPYINR
SELL JPYINR JUN @ 59.4 SL 59.7 TGT 59-58.7.
Observations
JPYINR trading range for the day is 58.31-59.89.
JPY gained on short covering after repeated verbal intervention efforts from Tokyo
Japan Manufacturing PMI increased to 54.9 in June 2026, above both May's reading and market expectations of 54.5.
Japan’s Services PMI Business Activity Index rose to 51.8 in June 2026 from 50.0 in the previous month.
