Rupee Fell Amid Frail Risk Sentiment And As Oil Importers Ramped Up Dollar Demand

Published 04-10-2022, 09:13 am
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# USDINR trading range for the day is 81.58-82.36.
# Rupee tumbled towards record lows amid frail risk sentiment and as oil importers ramped up dollar demand expecting a jump in crude prices
# The S&P Global (NYSE:SPGI) India Manufacturing fell to a three-month low of 55.1 in September 2022 from 56.2 in August
# The further rise in Treasury yields and the volatility in U.K. assets have also weighed on demand for risk assets.

# EURINR trading range for the day is 79.82-81.04.
# Euro remained supported as expectations for another jumbo European Central Bank rate hike this month.
# Euro zone factory activity declined again in Sept as energy bills bite – PMI
# Euro zone inflation zoomed past forecasts to a record high of 10.0% in September

# GBPINR trading range for the day is 90.26-93.16.
# GBP rose after the finance minister Kwarteng reversed and said he will not cut the top 45% rate of income tax for the biggest earners.
# S&P cuts UK rating outlook after government fiscal plan
# The S&P Global/CIPS UK Manufacturing PMI was revised slightly lower to 48.4 in September 2022

# JPYINR trading range for the day is 56.51-56.95.
# JPY steadied after Finance Minister Shunichi Suzuki's comments that Japan stood ready for "decisive" steps in the foreign exchange market.
# Japan PM vows to combat rising utility bills, benefit from weak yen
# Japan manufacturing PMI revised lower at 50.8 in September 2022.

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