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Published on 8/07/2020 3:29:25 PM | Source: Emkay Global Financial Services Ltd

The USD/INR spot has been respecting the 75.05 resistance as traders by Mr. Rahul Gupta, Emkay Global

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Below is the Quote on Rupee by Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

"The USD/INR spot has been respecting the 75.05 resistance as traders are hopeful about additional government and central bank stimulus from major economies. However, until then in the absence of major economic data, the coronavirus and geopolitical fears will keep risk sentiments under check. The US-China trade tiff is escalating with Trump considering to ban TikTok app as a retribution against China for coronavirus pandemic. If the immediate resistance of 75.05/75.10 breaks then we can see a rally towards 75.50, with crucial support being 74.50."

 

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