USDINR trading range for the day is 68.72-69.48.
Rupee weakened to its weakest since November 30, 2016, as high oil prices stoked importers to step-up purchase of the greenback.
The Reserve Bank of India (RBI) had intervened only mildly earlier in the day by selling dollars.
RBI’s MPC members raised concerns over rising household inflationary expectations which along with robust growth momentum could add to price pressure going forward.
* SELL USDINR JUL 2018 @ 69.00 SL 69.15 TGT 68.75-68.60. NSE
EURINR trading range for the day is 79.73-80.57.
Euro traded in range amid lingering global trade tensions and investors focussed on expectations the Fed will continue to raise interest rates.
German Chancellor Angela Merkel’s coalition parties described their row on migrant policy as very serious after crisis talks failed to defuse a dispute.
Italy’s consumer confidence strengthened for the first time in three months in June, survey data from the statistical office Istat showed.
* SELL EURINR JUL 2018 @ 80.25 SL 80.60 TGT 79.90-79.55. NSE
GBPINR trading range for the day is 90.05-91.22.
GBP dropped as imminent Brexit talks and doubts the Bank of England will raise interest rates at all this year darkened the outlook for the pound.
Bank of England Deputy Governor Jon Cunliffe offered no hints that he is likely to vote for higher interest rates soon.
Bank of England Governor Mark Carney said that British banks were fully prepared for a disorderly Brexit.
* SELL GBPINR JUL 2018 @ 90.30 SL 90.60 TGT 89.90-89.60. NSE
JPYINR trading range for the day is 62.46-63.08.
JPY traded in range as the dollar gained as trade-related worries eased after the U.S. administration softened its approach to Chinese investment.
Bank of Japan policymakers said the bank should persistently continue with powerful monetary easing as there is still a long way to go to achieve the inflation target.
Further, policymakers said as the reason for the sluggishness in prices is unlikely to be merely a shortage of demand.
* SELL JPYINR JUL BELOW 62.65 SL ABV 63.00 TGT 62.25-61.90. (STBT)AFTER POST CONTENT
I AM LAST