SELL USDINR MAR @ 91.75 SL 91.95 TGT 91.55-91.4 - Kedia Advisory
USDINR
SELL USDINR MAR @ 91.75 SL 91.95 TGT 91.55-91.4.
Observations
USDINR trading range for the day is 91.25-92.23.
Rupee rose, rebounding after sliding to a record low, as intervention by the RBI helped stabilize the currency.
Despite the rebound, underlying pressures remained as elevated global oil prices and a strong US dollar continued to weigh on the currency.
Heightened geopolitical uncertainty has prompted foreign investors to trim exposure to Indian equities this week.
EURINR
SELL EURINR MAR @ 106.8 SL 107.1 TGT 106.5-106.2.
Observations
EURINR trading range for the day is 105.97-107.75.
Euro dropped as geopolitical risks remained elevated, with oil prices and the dollar resuming their climb.
ECB'S VILLEROY: I do not see a reason today why ECB should raise interest rates
Morgan Stanley expects ECB to resume rate cuts in 2027 with two 25 bp cuts each in June and September
GBPINR
SELL GBPINR MAR @ 122.7 SL 123 TGT 122.4-122.2.
Observations
GBPINR trading range for the day is 121.47-124.05.
GBP declines amid fears of stagflation in the UK economy.
Markets now see just a 20% chance of a cut this month, down from 75% last week, and price only a single 25-basis-point reduction for the year.
UK Composite PMI stood at 53.7 in February 2026, unchanged from January’s 17-month high but slightly below the preliminary estimate of 53.9.
JPYINR
SELL JPYINR MAR @ 58.75 SL 59 TGT 58.5-58.25.
Observations
JPYINR trading range for the day is 58.3-59.12.
JPY dropped amid heightened uncertainty from the Middle East conflict.
BOJ Governor Ueda cautioned that the Middle East conflict could materially impact Japan’s economy, signaling a likely prolonged hold on interest rates.
Finance Minister Satsuki Katayama said currency market intervention remains an option to support the yen.
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