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USDINR

Observation

USDINR trading range for the day is 82.79-83.27.

Rupee remained in range as investors cautiously awaited key US inflation readings that could influence the interest rate outlook.

Foreign exchange reserves up by $4.04 bln to $598.90 bln for the week ending Sept 1

India's external debt-service ratio at 5.3 pc within comfort zone, says FM

EURINR

Observation

EURINR trading range for the day is 88.89-89.41.

Euro gains as risk sentiment improved, while investors look ahead to key economic data releases in major economies this week.

ECB’s Lagarde deemed PEPP reinvestments as the first line of defence to avoid an excessive spread widening

Markets are also bracing for the ECB’s policy decision on Thursday, where markets remain split on whether it would raise interest rates again or pause.

GBPINR

Observation

GBPINR trading range for the day is 103.45-104.41.

GBP steadied as markets await a batch of key data for insights on the monetary policy outlook for the BoE

The dollar index eased as investors cautiously awaited key US inflation readings that could influence the interest rate outlook.

The BoE has implemented rate hikes in each of its past 14 meetings, driven by the need to combat elevated inflation levels

JPYINR

Observation

JPYINR trading range for the day is 56.55-57.13.

USDINR OCT-SEP 0.1025 SELL JPYINR SEP @ 56.8 SL 57 TGT 56.6-56.4. JPY strengthened as comments from BOJ Governor Ueda stoked hopes that Japan could soon herald a new era away from negative rates

Ueda told that the BOJ could have enough data by year-end to determine whether it can end negative rates.

Japan’s economy expanded by 4.8% on an annualized basis in the second quarter, revised lower from a 6% growth seen in preliminary estimates

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