USDINR trading range for the day is 83.25-83.39 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.25-83.39.
Rupee closed little changed as RBI likely sold dollars to prevent the rupee from falling to a fresh record low.
New orders for manufactured durable goods in the US unexpectedly rose 0.2% month-over-month in August 2023
FinMin confident of 6.5 per cent growth in FY24 despite symmetric risks
EURINR
Observations
EURINR trading range for the day is 87.76-88.44.
Euro remained under pressure amid growing recession fears.
German business morale deteriorated slightly in September, falling for the fifth month
European Central Bank's record high deposit rate could help cut inflation to 2%, ECB President Christine Lagarde said
GBPINR
Observations
GBPINR trading range for the day is 101.09-101.49.
GBP eased as investors remained cautious while assessing the outlook for the economy, inflation and interest rates globally.
Pressure also seen on the back of the Bank of England's pause on its rate-hike cycle
UK policymakers are expected to keep the Bank Rate at 5.25% in November, given signs of slowing inflation and a loosening labor market.
JPYINR
Observations
JPYINR trading range for the day is 56.09-56.43.
JPY dropped after the BOJ maintained ultra-low interest rates
BOJ agreed to keep low rates, divided on exit timing – July meeting minutes
The index of coincident economic indicators in Japan, which covers a range of data, was revised lower to 114.2 in July 2023
