SELL USDINR OCT @ 88.9 SL 89.05 TGT 88.75-88.65- Kedia Advisory
USDINR
SELL USDINR OCT @ 88.9 SL 89.05 TGT 88.75-88.65.
Observations
USDINR trading range for the day is 88.8-88.92.
Rupee has been trading in a narrow range near all-time lows, with the RBI’s persistent dollar sales helping to anchor volatility.
RBI Governor Sanjay Malhotra stated that current global trade policies could inflict long-term harm on growth in certain economies.
The World Bank raised India’s economic growth forecast for FY 2025/26 to 6.5%, up from 6.3% in June. However
EURINR
SELL EURINR OCT @ 103.5 SL 103.8 TGT 103.2-103.
Observations
EURINR trading range for the day is 103.07-103.83.
Euro dropped as fresh data from Germany added to concerns about the eurozone’s economic outlook
The German government raised its growth forecast for 2025 to 0.2%, up from a zero-growth projection in April.
Italy's budget deficit could fall below 3% of GDP as early as this year, Economy Minister Giancarlo Giorgetti said.
GBPINR
SELL GBPINR OCT @ 119 SL 119.3 TGT 118.6-118.3.
Observations
GBPINR trading range for the day is 118.24-119.68.
GBP dropped pressured by a stronger dollar and concerns ahead of the UK’s November budget.
The RICS UK Residential Market Survey showed the house price balance rising 4 points to -15 in September 2025.
Markets are not expecting the next BoE rate cut until April next year, with a total of two reductions by end 2026.
JPYINR
SELL JPYINR OCT @ 58.5 SL 58.7 TGT 58.25-58.
Observations
JPYINR trading range for the day is 57.92-58.9.
JPY dropped as political shifts and soft economic data dampened prospects for Bank of Japan rate hikes.
BOJ Governor Kazuo Ueda recently stated that the bank could raise rates if the economy and prices evolve as expected.
Japan’s real wages dropped 1.4% in August from a year earlier, extending an eight-month streak of declines as inflation continued to outpace pay growth.
