MENU

Published on 29/08/2022 5:30:42 PM | Source: Motilal Oswal Financial Services Ltd

Currency Commentary: This week focus will be on the employment number Says Mr. Gaurang Somaiya, Motilal Oswal Financial Services

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Currency Commentary For 29 August 2022 By Mr. Gaurang Somaiya, Forex & Bullion Analyst Motilal Oswal Financial Services

“Rupee fell to fresh all-time lows after hawkish comments from the Fed Chairman at the Jackson Hole symposium. Fed Chaiman said the U.S. economy will need tight monetary policy "for some time" before inflation is under control. Powell gave no indication on Friday of how high rates might rise before the Fed is finished, only that they will go as high as needed. This week focus will be on the employment number that will be released from the US. We expect the USDINR(Spot) to trade sideways with a positive bias and quote in the range of 79.70 and 80.50.”

 

Above views are of the author and not of the website kindly read disclaimer