Sell USDINR Mar @ 87.45 SL 87.55 TGT 87.35-87.25 - Kedia Advisory
USDINR
SELL USDINR MAR @ 87.45 SL 87.55 TGT 87.35-87.25.
Observations
USDINR trading range for the day is 86.8-87.84.
Rupee ended little changed due to U.S. tariff-related uncertainties, and prompt, aggressive intervention by the central bank.
India's private sector output hit a six-month high in February, led by a significant surge in the services sector
Apart from news related to Trump's tariffs, investors will be looking at crucial data sets that will be released this week.
EURINR
SELL EURINR MAR @ 91.7 SL 91.9 TGT 91.5-91.3.
Observations
EURINR trading range for the day is 91.27-91.95.
Euro settled flat as traders assessed the escalation of trade tensions and its potential impact on the European economy.
US President Trump announced plans to impose a 25% tariff on imports from the EU, including cars and other goods.
In Germany, coalition talks are expected to begin soon between the election-winning CDU/CSU and outgoing Chancellor Olaf Scholz’s SPD.
GBPINR
SELL GBPINR MAR @ 110.8 SL 111.2 TGT 110.5-110.2.
Observations
GBPINR trading range for the day is 110.25-111.03.
GBP gains as expectations for Bank of England (BoE) rate cuts increased.
US President Donald Trump’s latest tariff announcements sparked caution in the markets.
BOE policymaker Swati Dhingra defended her call for a larger half-point rate cut, arguing that even gradual easing would keep policy restrictive.
JPYINR
SELL JPYINR MAR @ 58.8 SL 59 TGT 58.4-58.2.
Observations
JPYINR trading range for the day is 58.22-59.18.
JPY slipped as the dollar strengthened due to concerns over US President Donald Trump’s escalating tariffs.
BOJ officials also signaled their intention to adjust policy if economic conditions continue to evolve as anticipated.
Data showed core inflation in Japan rose to 3.2% in January, up from 3% in December, exceeding forecasts of 3.1%.
