Published on 27/10/2022 6:02:13 PM | Source: Motilal Oswal Financial Services Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below is Perspective on Rupee By Mr. Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services
“Rupee rose sharply as the dollar plunged against its major crosses.
Weaker-than-expected economic data from the US led to retracement in the dollar.
Expectation is that the Federal Reserve will slow the pace of its rate hiking cycle.
This sent the euro back above parity with the greenback for the first time in a month.
Pound extended its gains on optimism that Rishi Sunak and his team will restore stability and credibility in the UK.
Today, focus will be on the ECB policy statement and expectation is that the central bank could be hawkish and extend gains for the currency.
We expect the USDINR(Spot) to quote in the range of 82.10 and 82.50.
Above views are of the author and not of the website kindly read disclaimer
Weekly Market Wrap Up : Traders are advised to keep a note of all the above scenarios Says Mr. Sameet Chavan, Angel One
AB de Villiers feels SA20 can help young South African cricketers take their game to next level
Indian-American astronaut nominated for promotion to US Air Force brigadier general
A redefined athleisure wear brand by Akshay Kumar