Rupee Firms As Fed Hints Hiking Cycle Near Its End

# USDINR trading range for the day is 81.87-82.69.
# Rupee firms as Fed hints hiking cycle near its end
# ‘Indian economy likely to keep the pace of expansion’: We’re optimistic about India, whatever the odds, says RBI
# The Fed softened its language on future rate hikes, amid the banking crisis in the United States

# EURINR trading range for the day is 89.12-89.9.
# Euro gains as concerns of instability in European banks momentarily waned and improved financial conditions in the currency bloc
# ECB President Lagarde said that inflation remains far too high and that a robust strategy going forward is essential.
# The central bank raised its key rates by 50bps in its March meeting, adding to 350bps in rate hikes since the start of its tightening campaign.

# GBPINR trading range for the day is 100.66-101.8.
# GBP steadied after fresh CPI data showed both headline and core inflation in the UK unexpectedly accelerated in February
# The Bank of England raised its key bank rate by 25bps to 4.25% during the March 2023 meeting, in line with expectations
# UK producer inflation eases to a 12-month low

# JPYINR trading range for the day is 62.23-63.35.
# JPY gained as dollar as the Federal Reserve delivered a widely expected 25 basis point rate hike
# The Reuters Tankan sentiment index for manufacturers in Japan stood at -3 in March 2023, improving from February
# Minutes from the Bank of Japan’s meeting showed members reiterated the need to maintain ultra-easy policies.