Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 90.00-93.50 1.1250-1.2100 1.2800-1.3700 150.00-162.50 0.7400-0.8300
Sentiment against USD Positive Negative Negative Positive Positive
Forecast for the day 92.85-93.50 1.1495-1.1590 1.3325-1.3455 157.65-158.85 0.7880-0.7920

Spot rupee opens at 92.89 levels against previous close of 92.64 levels. Crude oil prices pulled back overnight after President Trump hinted that the war would end soon and the US would escort ships along Hormuz. PM Netanyahu stated that they would not target oil resources. Equity market benchmarks are trading about 0.5 higher in early trades.


USD index pulled back slightly to 99.41 levels yesterday. Central Bank meetings in the last two days including the Fed, BOJ, SNB, BOE and ECB are now behind with no changes in their respective interest rates.


Meanwhile, JPY surged higher as the strongest performer, supported by hawkish comments of BOJ Governor Ueda’s post meeting remarks. After the BOJ held rates at 0.75, Ueda signalled that rate hikes remain on the table even if growth weakens, as long as underlying inflation stays intact. This marks a notable shift, suggesting policy will not be constrained by temporary economic softness. Markets now expect BOJ to hike rates in April.


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