Forex Market News

GBPINR – Ways2Capital

                         

GBPINR trading range for the day is 95.52-96.6.

GBP traded in range amid struggling dollar and growing expectations of a Brexit deal fuelled demand for the British currency.

Unwinding of Bank of England’s asset purchase plan will not have a material impact on the yield curve, if done gradually with proper communication.

Quantitative easing, or QE, affects the yield curve but it does so primarily by affecting expectations of future monetary policy, Vlieghe said in a speech.    

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JPYINR – Ways2Capital

     

JPYINR trading range for the day is 64.49-65.03.

JPY traded in range as markets awaited the conclusion of the Federal Reserve’s latest meeting.

Producer prices in Japan were up 1.3 percent on year in August, the Bank of Japan said.

Japan’s leading index fell less-than-estimated in July but reached its lowest score since late 2016, final data from the Cabinet Office showed.

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Rupee Trades Fat At 69.66 Per Dollar

The Indian rupee is trading flat at 69.66 per dollar versus previous close 69.66.

Rupee consolidated in a range ahead of general election results that will be declared today; expectation is that the current ruling government could win with a big majority and that could be supportive for the rupee.

As the counting began this morning we expect volatility for the currency to remain high during the course of the day. Rupee is expected to witness wild swing as and when the numbers are released.

Today, the rupee is expected to open higher against the dollar as early numbers suggest the result could be in favor of the NDA. The USD-INR pair is expected to quote in the range of 69.20 and 70.20, it added.

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USDINR – Ways2Capital

USDINR trading range for the day is 69.55-69.96.

Rupee traded in range tracking higher crude oil prices even as investors stayed cautious ahead of election results amid thin volumes.

However, caution remains until the actual results scheduled for Thursday, and investors are refrain from making aggressive positions awaiting the same.

The Reserve Bank of India (RBI) will remain vigilant and strive to revive growth in Asia’s third-largest economy.

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EURINR – Ways2Capital

EURINR trading range for the day is 77.76-78.1.

Euro remained under pressure on dollar strength and due to concerns the coming European parliamentary elections may see euroskeptic parties faring well.

Eurozone consumer confidence rose more-than-expected in May to its highest level in seven months, after weakening in the previous month.

Germany’s economy is likely to lose momentum in the second quarter, according to the monthly report, published by Bundesbank.

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GBPINR – Ways2Capital

GBPINR trading range for the day is 87.82-89.12.

GBP remained in range after Prime Minister Theresa May set out a “new deal” for Britain’s departure from the EU.

Brexit uncertainty has grown in recent weeks after the breakdown of talks between May and the opposition Labour party.

UK manufacturing orders hit its lowest level since October 2016, the Industrial Trends survey from the Confederation of British Industry showed.

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JPYINR – Ways2Capital

JPYINR trading range for the day is 62.96-63.44.

JPY dropped as the dollar steadied on higher U.S. yields after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies.

Bank of Japan board member Yutaka Harada said the central bank must ramp up monetary stimulus “without delay”

Japanese exports contracted for the fifth month in April due to a slump in shipments of chip-making equipment to China.

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JPYINR – Ways2Capital

JPYINR trading range for the day is 63.09-63.61.

JPY dropped as the dollar supported by higher U.S.-yields and its safe-haven status.

Japan’s industrial production declined less-than-estimated in March, final data from the Ministry of Economy, Trade and Industry showed.

Japan’s gross domestic product climbed a seasonally adjusted 0.5 percent on quarter in the first quarter of 2019, the Cabinet Office said.

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GBPINR – Ways2Capital

GBPINR trading range for the day is 88.3-89.16.

GBP remained in range as Britain’s prime minister made a last-ditch bid to get a Brexit deal through parliament before she leaves office

After failing three times to get parliament’s approval for her EU divorce deal, PM May said she would present a “new, bold offer” to lawmakers with “an improved package of measures”.

British households’ financial wellbeing deteriorated at the fastest pace since September 2017, survey data from IHS Markit showed.

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