Sell USDINR Sep @ 88.3 SL 88.45 TGT 88.15-88 - Kedia Advisory
USDINR
SELL USDINR SEP @ 88.3 SL 88.45 TGT 88.15-88.
Observations
USDINR trading range for the day is 87.97-88.39.
Rupee ended modestly lower as dollar demand from local oil companies and foreign banks weighed.
GST Council approved a major overhaul of the goods and services tax regime, cutting rates on a wide range of common-use items.
India's service sector experienced remarkable growth in August, reaching a 15-year high with a PMI of 62.9.
EURINR
SELL EURINR SEP @ 103 SL 103.3 TGT 102.7-102.5.
Observations
EURINR trading range for the day is 102.67-103.11.
Euro seen supported as investors weighed the outlook for global trade tariffs.
President Trump urged the US Supreme Court to swiftly hear an appeal challenging a lower court ruling that deemed most of his tariffs illegal.
Eurozone inflation accelerated to 2.1% in August, slightly above forecasts and the ECB’s 2% target
GBPINR
SELL GBPINR SEP @ 118.8 SL 119.1 TGT 118.5-118.2.
Observations
GBPINR trading range for the day is 118.1-119.08.
GBP gains benefiting from a weaker US dollar after disappointing labor market data.
BoE Governor Andrew Bailey told MPs there is “considerably more doubt” about when UK rates can be reduced.
Markets no longer expect another rate cut this year, with the next fully priced in for April.
JPYINR
SELL JPYINR SEP @ 59.6 SL 59.9 TGT 59.3-59.
Observations
JPYINR trading range for the day is 59.49-59.49.
JPY steadied as the greenback retreated after soft US jobs data reinforced expectations of Federal Reserve rate cuts.
BOJ Governor reiterated that the bank’s policy stance on rate hikes remains unchanged if growth and inflation progress as anticipated
Japan Composite PMI stood at 52.0 in August 2025, slightly above the flash estimate of 51.9 and up from 51.6 in the previous month.
