Sell GBPINR Sep @ 118.8 SL 119.1 TGT 118.5-118.2 - Kedia Advisory
USDINR
SELL USDINR SEP @ 88.3 SL 88.45 TGT 88.15-88.
Observations
USDINR trading range for the day is 87.92-88.42.
Rupee hovered around 88 per dollar, as steep US tariffs continued to weigh on market sentiment.
The Centre remains confident about maintaining its FY26 fiscal deficit at 4.4% of GDP, despite potential GST revenue losses.
Attention now turns to US inflation releases this week to gauge the tariff impact on prices, while India’s CPI data due Friday
EURINR
SELL EURINR SEP @ 103 SL 103.3 TGT 102.7-102.5.
Observations
EURINR trading range for the day is 103.44-104.12.
Euro rose after French Prime Minister François Bayrou was ousted in a parliamentary confidence vote over the budget.
German exports unexpectedly fell in July on a sharp decline in U.S. demand due to Washington's tariffs on European imports.
Markets are also looking ahead to ECB meeting, where policymakers are expected to leave rates unchanged for a second consecutive time.
GBPINR
SELL GBPINR SEP @ 118.8 SL 119.1 TGT 118.5-118.2.
Observations
GBPINR trading range for the day is 118.93-120.33.
GBP rose lifted by broad dollar weakness after US jobs data pointed to further cooling in the labor market.
UK retail sales rose 2.9% year-on-year on a like-for-like basis in August 2025, accelerating from July’s 1.8% gain.
BoE Governor Andrew Bailey told MPs there is “considerably more doubt” about the timing of UK rate cuts.
JPYINR
SELL JPYINR SEP @ 59.6 SL 59.9 TGT 59.3-59.
Observations
JPYINR trading range for the day is 59.62-61.24.
JPY gained as the dollar slipped on growing expectations for deeper US Federal Reserve rate cuts.
Japan’s service sector index rose to 46.7 in August 2025 from 45.2 in the previous month, marking the highest since January.
Second quarter GDP growth was revised higher on both annualized and quarterly terms, driven by robust exports and steady growth in private consumption.
