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 87.94-88.64.
Rupee hit a lifetime low, pressured by worries over U.S. tariffs, leaving traders on edge.
India maintained its FY 2025–26 fiscal deficit target at 4.4% of GDP, despite potential revenue losses from recent GST rate reductions.
India's chief economic adviser said he believed the country's growth target of 6.3-6.8% for the current financial year would be met.
EURINR
SELL EURINR SEP @ 103 SL 103.3 TGT 102.7-102.5.
Observations
EURINR trading range for the day is 102.87-103.65.
Euro seen supported after weak U.S. data and dovish remarks from Federal Reserve officials.
Several members viewed inflation risks as tilted to the downside relative to the June staff projections, at least for the next two years, the ECB said.
Growth in euro zone bank lending accelerated to a fresh two-year high on the back of lower interest rates and a gradual economic recovery.
GBPINR
SELL GBPINR SEP @ 118.8 SL 119.1 TGT 118.5-118.2.
Observations
GBPINR trading range for the day is 118.54-119.42.
GBP gains supported by declining global yields and easing UK fiscal concerns
UK retail sales rose by 0.6% month-on-month in July 2025, accelerating from a 0.3% increase in June.
The Halifax House Price Index in the UK rose 2.2% year-on-year in August 2025, easing from 2.5% in July.
JPYINR
SELL JPYINR SEP @ 59.6 SL 59.9 TGT 59.3-59.
Observations
JPYINR trading range for the day is 59.19-60.27.
JPY settled flat after Trump signed an executive order cutting tariffs on Japanese cars to 15% from 27.5%.
Japan’s foreign reserves climbed by $19.8 billion to $1.32 trillion in August 2025, the highest since July 2022.
Japan’s nominal wages rose 4.1% year-on-year in July 2025, the fastest pace in seven months
