US Non Farm Payrolls to Forecast to Drive Pound Sterling to Indian Rupee (GBP/INR) Exchange Rate Movement Today Ahead of tomorrow's UK and Indian Services PMIs any fluctuations in the Pound Sterling to Indian Rupee (GBP/INR) exchange rate are likely to occur in response to the US Non Farm Payrolls report. A strong jobs gain or increase in average earnings would up the odds of the Federal Reserve raising borrowing costs in 2015 and reduce demand for emerging-market assets like the Rupee. Earlier... GBP to INR Down -0.3% as Pound Sterling (GBP) Exchange Rate Broadly Declines after UK Manufacturing Data The Pound Sterling to US Dollar (GBP/USD), Pound Sterling to Indian Rupee (GBP/INR) and Pound Sterling to Australian Dollar (GBP/AUD) exchange rates fluctuated after the UK’s Manufacturing PMI fell instead of climbing further above the 50 mark separating growth from contraction – as economists expected to be the case. The GBP/EUR currency pair remained in a stronger position after Greece defaulted on its repayment to the International Monetary Fund (IMF). Currency Market Outlook: UK, Indian Manufacturing PMI’s Impact GBP/INR, USD/INR Exchange Rates While the UK’s disappointing manufacturing PMI weighed on demand for the Pound, India also issued a less-than-impressive report, with its own HSBC Manufacturing index dropping from 52.6 to 51.3 last month. Sterling held its 0.3% decline against the Rupee after the report was published. However, one Markit economist was able to pick out some positives from the report, stating; ‘broad-based increases in both production and order book volumes were maintained, with consumer, intermediate and investment goods producers all recording growth. “On the price front, there was welcome news from an easing in inflation rates. Costs and charges both rose at rates that were historically muted. With price pressures being weak and growth losing steam, June’s dataset suggests that the RBI’s loosening cycle is, therefore, likely to continue.’

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