February 14, 2023
New Delhi, India
USDINR
The last traded price of USDINR was 83.1225 up by 0.13%. USDINR trading range for the day is between 82.99-83.11. The Rupee ends little changed as an uptick in the dollar index offsets early gains. India’s annual retail inflation eases to 5.1% in January 2024, with investors pricing in rate cut probabilities of 17.5% in March and about 63% in May.
GBPINR
The last traded price of GBPINR was 104.7375 down by -0.43%. GBPINR trading range for the day stands at 104.57-105.17. GBP steadies as investors gain confidence in the BOE’s determination to maintain current interest rates. UK employment and inflation data will be pivotal in the upcoming week, with British house prices showing the strongest annual growth rate in a year.
EURINR
The last traded price of EURINR was 89.0725 down by -0.48%. EURINR trading range for the day is observed at 89.34-89.88. The Euro remains in range as investors await key US inflation data to guide the global interest rate outlook. Uncertainty surrounding Fed rate cuts keeps USD bulls on the defensive, while ECB rate cut bets might limit gains for the shared currency.
JPYINR
The last traded price of JPYINR was 55.2875 down by -0.58%. JPYINR trading range for the day is between 55.76-56. The JPY remains in range as investors await US consumer inflation data and clues on interest rate trajectories. BoJ’s Uchida suggests aggressive tightening is unlikely post-exit from negative interest rate policy. Traders await key US inflation figures this week.
