Published on 2/06/2021 4:09:34 PM | Source: Emkay Global Financial Services Ltd

Quote on Rupee By Mr. Rahul Gupta, Emkay Global Financial Services

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Below are Quote on Rupee By Mr. Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services

“The fx market is appreciating ahead of the US NFP data for a steer on the US outlook. A surge in payrolls growth will be seen as a sign that the Fed is more likely to move towards early rate hike in the future. The USD/INR spot did not have a good month of May, despite favourable seasonality conditions. However, from 72.30-72.50 zone dollar bulls have been active, but broadly risk still remains tilted to downside in USDINR spot. Technically, there is a strong resistance is around 73.50-73.60 zone, a reversal from there can bring the spot back to 72.75 zone.”


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