Sell USDINR Jun @ 94.9 SL 95.1 TGT 94.6-94.4. - Kedia Advisory
USDINR
SELL USDINR JUN @ 94.9 SL 95.1 TGT 94.6-94.4.
Observations
USDINR trading range for the day is 94.26-95.18.
Rupee strengthened, to a five-week high as easing geopolitical tensions in the Middle East improved investor sentiment.
India’s wholesale prices advanced 9.68% year-on-year in May 2026, accelerating from an 8.30% rise in April.
India's foreign exchange reserves fell to $681.61 billion as of June 5, compared with $682.32 billion a week earlier.
EURINR
SELL EURINR JUN @ 110.1 SL 110.4 TGT 109.7-109.6.
Observations
EURINR trading range for the day is 109.76-110.4.
Euro dropped amid Rupee firmed after US and Iran announced a preliminary agreement to end their three-month conflict.
ECB raised interest rates last week for the first time in three years, a preemptive step to curb inflation driven by rising fuel costs.
IMF warns persistent energy shocks could worsen inflation and growth outlook
GBPINR
SELL GBPINR JUN @ 127.25 SL 127.6 TGT 126.8-126.5.
Observations
GBPINR trading range for the day is 126.91-127.87.
GBP dropped amid Rupee firmed as investors shifted toward riskier assets following the US and Iran’s preliminary agreement to end conflict.
On the monetary policy front, the Bank of England’s decision, due on Thursday, is expected to be closely split.
Policymakers are balancing inflationary pressures against a weakening jobs market and sluggish economic growth.
JPYINR
SELL JPYINR JUN @ 59.3 SL 59.5 TGT 59.1-58.9.
Observations
JPYINR trading range for the day is 59.17-59.57.
JPY dropped as traders piled on short bets against the currency amid persistent carry trades, where investors are borrowing against the low-yielding yen.
Japan's core consumer inflation likely held steady in May at roughly the previous month's pace due to end of government fuel subsidies.
The Bank of Japan is widely expected to raise interest rates this week in an effort to contain inflation and stabilize the currency.
