SELL USDINR MAR @ 91.1 SL 91.25 TGT 90.9-90.8 - Kedia Advisory
USDINR
SELL USDINR MAR @ 91.1 SL 91.25 TGT 90.9-90.8.
Observations
USDINR trading range for the day is 90.9-91.16.
Rupee closed marginally stronger, comforted by strength in regional currencies while elevated demand to buy dollars kept gains in check.
Dollar-rupee forward premiums rose across most tenors, with the 1-month forward premium drifting higher to 15 paisa.
India's economy is set for strong growth, with projections between 6.8% and 7.2% for FY27.
EURINR
SELL EURINR MAR @ 107.7 SL 108 TGT 107.4-107.1.
Observations
EURINR trading range for the day is 107.5-107.9.
Euro gains after the European Parliament paused the ratification process of the US-EU trade deal agreed with US President Donald Trump last July in Scotland.
Euro was further supported by stronger-than-expected German business confidence, which climbed to a six-month high.
Traders will monitor consumer and business confidence data from the Eurozone and Italy for fresh signals on economic momentum.
GBPINR
SELL GBPINR MAR @ 123.35 SL 123.7 TGT 123-122.7.
Observations
GBPINR trading range for the day is 123.01-123.69.
GBP steadied as US President Donald Trump’s new 10% global tariffs came into effect.
UK PMI showed private-sector activity expanding in February at its fastest pace since April 2024, while January retail sales exceeded expectations.
UK Services PMI edged down to 53.9 in February 2026 from 54 in January, but above forecasts of 53.5, flash estimates showed.
JPYINR
SELL JPYINR MAR @ 58.6 SL 58.8 TGT 58.4-58.2.
Observations
JPYINR trading range for the day is 58.2-59.14.
JPY strengthened as comments from Bank of Japan Governor Kazuo Ueda signaled the possibility of a near-term rate hike.
Ueda reportedly said the central bank will carefully review economic data at its March and April meetings before deciding on any interest rate increase.
Prime Minister Sanae Takaichi also reportedly voiced concerns over additional rate hikes during a meeting with Ueda last week.
