JPYINR - Ways2Capital

JPYINR trading range for the day is 58.34-58.78. JPY weakened after better that expected GDP led investors to back off on recent gains slightly as tensions on the Korean peninsula remain in focus.

Japan's gross domestic product expanded 1.0 percent on quarter in the second three months of 2017, the Cabinet Office said. Japan's second quarter surged an unexpected 4.0% on year as investment in plant and equipment lifted sentiment for the sixth straight quarter of expansion.

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GBPINR - Ways2Capital

GBPINR trading range for the day is 83.17-83.64. GBP traded in range as investors added bearish bets against the British currency on concerns the economy may be struggling to gain momentum.

The UK economy grew at a slightly slower pace in three months ended July, the National Institute of Economic and Social Research said.

UK data on inflation and employment will be in the spotlight amid ongoing concerns over the economic fallout from Brexit.
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EURINR Trading Range For The Day Is 75.49-76.05

EURINR trading range for the day is 75.49-76.05. Euro moved higher as support seen after Morgan Stanley raised its forecasts for the currency.

Germany's consumer price inflation accelerated to a three-month high in July, final data from Destatis showed. Italy's consumer price inflation eases slightly as initially estimated in July, latest figures from the statistical office Istat showed.

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USDINR Trading Range For The Day Is 63.95-64.38

USDINR trading range for the day is 63.95-64.38. Rupee settled flat paring all of its gains on oil importer demanded dollars in a truncated week.

India's wholesale price index in July rose 1.88 percent from a year earlier, after easing for four months, government data showed.

India's industrial production declined unexpectedly in June on weak manufacturing activity, data from the Central Statistics Office revealed.

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Indian Rupee Slips 16 Paise In Opening Trade

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 16 paise at 64.28 per dollar versus 64.12 Monday.

Pramit Brahmbhatt of Veracity said, "Encouraging US economic data and FII outflows will help the dollar appreciate. We expect the USD-INR to trade in a range of 64-64.50 for the day."

The US dollar strengthened after economic data, including July retail sales, beat expectations and cast the economy in a relatively favourable light.

The US currency also continues to benefit from abating fears about a military showdown between the US and North Korea.The pound, on the other hand, tumbled after UK inflation came in softer than expected, quelling some concern that the Bank Of England would soon raise interest rates.

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JPYINR Jumped By 2 Percent Last Week




JPYINR jumped by 2 percent last week as Japan is likely to be target of tensions between North Korea and the US although its safe haven demand will, provide a cushion. Besides, North Korea commented of examining carefully plans for a missile strike on the US Pacific territory of Guam, just hours after U.S. President Donald Trump told the North that any threat it presented to the United States would be met with "fire and fury". JPYINR is likely to trade sideways today.


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GBPINR Gained 0.3 Percent Last Week As Weakness



GBPINR gained 0.3 percent last week as weakness in the DX supported an upside However, sharp gains were limited as Britain’s trade deficit hit a new nine-month low in June, widening from a downwardly revised -£2.5bn to -£4.6bn as imports continued to outpace exports. Moreover, dovish stance by the BoE governor in the recent monetary policy has also added to the woes. The interest rates were kept unchanged while he growth forecast was reduced. Today, GBPINR is expected to trade on a positive note towards 83.65- 70 levels.


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