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USDINR

Observations

USDINR trading range for the day is 83.98-84.06.

Rupee ended lower as Asian currencies broadly struggled ahead of a series of U.S. economic data

The World Bank has projected India's economy to expand by 7% in the current financial year

India's strong growth will continue despite challenging global headwinds.

SELL USDINR SEP @ 84.06 SL 84.18 TGT 83.9-83.8.

EURINR

Observations

EURINR trading range for the day is 92.67-93.15.

Euro remained in range as eurozone manufacturing activity remained mired in contraction in August

Euro zone banks should factor in geopolitical risks when they decide how much capital to pay out and where to do business – ECB

Inflation in the euro zone fell to its lowest level in three years in August

SELL EURINR SEP @ 93 SL 93.2 TGT 92.8-92.6.

GBPINR

Observations

GBPINR trading range for the day is 109.96-110.5.

GBP traded in range as expectations of diverging monetary policies between the US and the UK continue to support.

British consumer spending increased modestly in annual terms during August

The BoE recently lowered its main interest rate to 5% and traders expect additional cuts totaling 41 basis points by year-end.

SELL GBPINR SEP @ 110.4 SL 110.7 TGT 110.1-109.9.

JPYINR

Observations

JPYINR trading range for the day is 57.44-57.78.

JPY steadied amid hawkish outlook on Bank of Japan monetary policy.

BOJ policymakers said recently that they are ready to adjust monetary settings if their economic projections materialize

Markets are betting that the central bank will raise interest rates again in December.

BUY JPYINR SEP @ 57.4 SL 57.2 TGT 57.7-57.9.