# USDINR trading range for the day is 83.77-83.99.
# The rupee closed flat due to dollar demand from importers and foreign banks.
# Fed Powell's dovish comments increased the likelihood of a larger rate cut at the Fed's September meeting.
# The dollar-rupee 1-year forward premium reached a peak of 2.14%, the highest since May 2023.
# EURINR trading range for the day is 93.46-94.02.
# Euro surged boosted by the US dollar's decline following Fed Powell's hint at potential interest rate cuts by the Fed.
# The Ifo Business Climate indicator for Germany dropped to 86.6 in August 2024, the lowest level since February
# A slowdown in Euro Area wage growth, bolstering the case for the European Central Bank to continue cutting interest rates.
# GBPINR trading range for the day is 110.51-110.99.
# GBP rose after BOE’s Bailey suggested that more interest rate cuts might be on the way to help mortgage holders.
# US Fed Powell suggests interest rate cuts may be imminent due to falling inflation and rising unemployment.
# S&P Global (NYSE:SPGI) Flash UK PMI composite output index rises to 53.4, marking a four-month high.
# JPYINR trading range for the day is 57.82-58.4.
# JPY appreciated as BOJ Ueda’s hawkish remarks contrasted with Fed Chair Jerome Powell’s dovish stance.
# Japan’s core inflation rate accelerated for the third consecutive month to 2.7% in July
# Ueda told parliament that the central bank could adjust monetary policy if its economic projections prove correct, indicating a willingness to hike rates again.