The Rupee Fell As Importers Purchased The Dollar Ahead Of The News Of US CPI Data

# trading range for the day is 83.13-83.37.

# The rupee declined as importers bought the dollar ahead of the release of US CPI data.

# The US inflation rate held steady at 3.7% in September 2023, defying market expectations of a slight decrease to 3.6%.

# The IMF has also projected inflation at 5.5%, up from its earlier forecast of 4.6%.

# trading range for the day is 88.3-88.68.

# Euro seen supported as investors digested dovish messages from policymakers at both the Federal Reserve and the European Central Bank.

# ECBs Guindos mentioned that inflation was expected to continue its downward trend.

# ECBs Villeroy said inflation should still reach the ECB\\'s target of around 2% by the end of 2025, despite the violence that has flared up in Israel.

# trading range for the day is 102.16-102.8.

# GBP seen supported as markets continued to assess the latest economic data for hints on the policy path for major central banks.

# UK economy returns to growth in August.

# UK trade deficit widened to £3.415 billion in August 2023 from £1.418 billion in the previous month.

# trading range for the day is 55.88-56.1.

# JPY dropped as minutes of the Federal Reserves last meeting bolstered bets that it will hold interest rates steady.

# Investors assessed data showing machinery orders in Japan, fell 0.5% month-on-month in August.

# The value of loans in Japan increased 2.9% year-on-year in September 2023, missing market expectations for a 3.1% growth.