Sell USDINR OCT @ 96.2 SL 96.4 TGT 96-95.8 - Kedia Advisory
USDINR
SELL USDINR OCT @ 96.2 SL 96.4 TGT 96-95.8.
Observations
USDINR trading range for the day is 95.88-96.42.
Rupee was among the worst performers in Asia this quarter hit by worries over elevated crude prices and surging global bond yields.
Reserve Bank of India's net forward dollar liabilities ballooned to a record $200 billion in August.
Reserve Bank of India's monetary policy decision next week is expected to be a key driver, with markets widely anticipating a 25 basis point hike.
EURINR
SELL EURINR OCT @ 109.4 SL 109.7 TGT 109.1-108.8.
Observations
EURINR trading range for the day is 109.07-109.65.
Euro steadied as markets expected the ECB to lag the Fed in tightening.
Markets are pricing in further ECB rate increases over the coming year, with the next move potentially coming in December alongside the ECB’s economic projections.
ECB Lagarde said the recent surge had yet to generate significant second-round effects, pointing to a measured policy response.
GBPINR
SELL GBPINR OCT @ 127.8 SL 128.1 TGT 127.5-127.2.
Observations
GBPINR trading range for the day is 127.13-128.13.
GBP gains as investors priced in tighter monetary policy from the Bank of England as inflation pressures build.
UK economy expanded by 0.5% quarter-on-quarter in Q2 2026, revised up from 0.4% in the previous estimate.
Car production in the United Kingdom climbed by 6.1% year-on-year to 39,328 units in August 2026
JPYINR
SELL JPYINR OCT @ 61.3 SL 61.6 TGT 61-60.8.
Observations
JPYINR trading range for the day is 61.17-61.57.
JPY gains as traders responded to a series of verbal warnings from officials signaling Tokyo’s determination to support the currency.
Retail sales in Japan increased 2.7% year-on-year in August 2026, below market expectations for a 3.3% rise
Japan’s industrial production fell 1.7% month-over-month in August 2026, deepening from a 0.2% drop the prior month
