JPYINR - Ways2Capital


JPYINR trading range for the day is 61.31-61.85.

JPY gained as dollar slipped erasing gains made after the Federal Reserve took a slightly more hawkish policy tone in signaling two more rate hikes by year-end.

Japan's industrial production increased more than initially estimated in April, final data from the Ministry of Economy, Trade and Industry showed.

Japan's tertiary activity index increased in April after falling in the previous month, data from the Ministry of Economy, Trade and Industry showed.

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GBPINR - Ways2Capital

GBPINR trading range for the day is 90.21-91.43.

GBP gained after data showing that UK retail sales outstripped forecasts in May as good weather and the Royal Wedding boosted consumer spending.

Consumer price inflation held at an annual rate of 2.4 percent in May, its joint-lowest since March 2017, the Office for National Statistics said.

British house prices edged up from a five-and-a-half-year low in May and there was a tentative first sign of more properties for sale.

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EURINR - Ways2Capital

EURINR trading range for the day is 79.6-80.47.

Euro gained as the European Central Bank prepared to pull the plug on its 2.55 trillion-euro, three-year stimulus program.

Germany's consumer price inflation accelerated, as initially estimated, on energy prices in May, final data from Destatis showed.

Eurozone employment grew at a slightly faster pace in the three months ended March, data from Eurostat showed.

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USDINR - Ways2Capital

USDINR trading range for the day is 67.55-67.91.

Rupee traded in range on selling by foreign banks tracking a subdued greenback.

India’s annual retail inflation accelerated to a four-month high in May, driven by higher fuel prices and a depreciating rupee.

Activity in India’s service industry shrank in May for the first time in three months as new orders stagnated, but business optimism was the highest since 2015.

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Indian Rupee Opens At 67.54 Per Dollar; Gains 10 Paise

The Indian rupee gained in the opening trade on Thursday. It has opened higher by 10 paise at 67.54 per dollar versus 67.64 yesterday.

The USD-INR pair after opening higher came under pressure in the latter half of the session as the dollar fell against its major crosses. Volatility for the dollar was confined to a narrow range ahead of the FOMC policy statement that was released last evening. The Fed chairman, in line with expectation, raised rates by 25bps and officials projected to raise rates twice more this year, said Motilal Oswal.

The Fed dropped its pledge to keep rates low enough to stimulate the economy “for some time” and signaled it would tolerate inflation above its 2% target at least through 2020.

Overall the statement was hawkish which was supportive for the dollar as well as US 10-year yield. Today, USD-INR pair is expected to quote in the range of 67.45 and 67.80-67.95, it added.

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JPYINR - Ways2Capital



JPYINR trading range for the day is 61.15-61.47.

JPY dropped as the dollar seen supported ahead of a Federal Reserve policy meeting that could give clues on how many more U.S. rate hikes there will be this year.

Japan’s core machinery orders in April jumped the most since the start of 2016, reversing the prior month’s decline.

Japan's tertiary activity index increased in April after falling in the previous month, data from the Ministry of Economy, Trade and Industry showed.

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GBPINR - Ways2Capital

GBPINR trading range for the day is 90.07-90.7.

GBP traded in range after British PM May saw off a rebellion in parliament over amendments to a bill for the country’s exit from the EU next year.

May had faced a showdown with lawmakers who wanted the power to force her government to go back to the negotiating table if they reject a Brexit deal.

A minister long critical of the government’s handling of Brexit resigned earlier in protest at what he called its “wish to limit” the role of lawmakers in the process.

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