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USDINR

SELL USDINR AUG @ 95.9 SL 96.1 TGT 95.7-95.5.

Observations

USDINR trading range for the day is 95.72-96.08.

Rupee closed nearly flat as pressure from sustained volatility in oil prices and corporate dollar demand was blunted by likely central bank intervention.

India’s industrial output accelerated to a 23-month high in June, with the expanding by 7.3%, up from 5.1% in the previous month.

India's private sector growth slowed significantly in July, reaching a four-year low.

EURINR

SELL EURINR AUG @ 110.2 SL 110.5 TGT 109.9-109.6.

Observations

EURINR trading range for the day is 109.44-110.36.

Euro edged higher as the US dollar weakened after the Fed left interest rates unchanged, broadly in line with expectations.

ECB policymaker Peter Kazimir said at least one more increase will likely be needed to bring inflation under control.

In the euro area, money markets are pricing in nearly two 25-basis-point ECB rate hikes by March 2027.

GBPINR

SELL GBPINR AUG @ 128.6 SL 128.9 TGT 128.3-128.

Observations

GBPINR trading range for the day is 127.75-128.83.

GBP gains after BOE voted 6-3 to keep the Bank Rate unchanged at 3.75%, with markets having expected a narrower 7-2 split.

BoE said the impact of higher energy prices remains uncertain and warned that inflation is likely to rise later this year.

UK car production dropped 1.2% year-on-year to 68,200 units in June 2026, reversing a 3.2% rise in May.

JPYINR

SELL JPYINR AUG @ 59.5 SL 59.7 TGT 59.3-59.1.

Observations

JPYINR trading range for the day is 59.13-59.13.

JPY dropped as repeated warnings of possible intervention failed to curb the currency’s weakness amid broad US dollar strength.

The Bank of Japan is widely expected to keep its policy rate unchanged on Friday while leaving the door open for additional rate hikes to help stem the yen’s decline.

Verbal intervention from Japanese authorities has so far provided little support for the currency, while the BOJ has remained vague about its tightening plans.