Rupee Gains As Recession Fears Spooked Investors.

trading range for the day is 81.86-82.06.

Rupee gains as recession fears spooked investors, triggered by the hawkish speech from US Fed Chairman Powell.

Fitch raises India's GDP forecast to 6.3% for the current fiscal year.

The rupee forward premiums have also inched up, helping to hold the positive sentiment in the currency.

trading range for the day is 89.82-90.4.

Euro gained supported by expectations of higher rates from the ECB.

Eurozone recorded a current account surplus of EUR 4.2 billion in April 2023.

The German economy will contract more than previously expected this year.

trading range for the day is 103.93-105.61.

GBP rose as the Bank of England raised the bank rate by 50bps to 5% in June 2023.

British inflation unexpectedly held steady at 8.7% in the year to May, defying predictions of a modest decline to 8.4%.

Public sector net borrowing excluding banks in the UK was in deficit by £20 billion in May 2023.

trading range for the day is 57.62-58.1.

JPY dropped as BOJ Governor Ueda reiterated the banks resolve to maintain the ultra-loose monetary policy.

BOJ's Noguchi: No need to make operational tweaks to YCC for now.

Too early for Japan to tweak monetary policy: BoJ Adachi.