Below are Views On The USDINR bulls have taken a breather after Yellen's remarks By Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services
"The USDINR bulls have taken a breather after Yellen's remarks on pushing for a fiscal stimulus package which is eventually going to increase inflation. The focus of the market is on Biden's inauguration for clues about his agenda in the first 100 days and whether he announces countrywide lockdown or continues Trump's stance against China as he takeovers. IPO related flows can keep the USDINR spot near 73 zone but a break of which can push price towards 72.75, while 73.50 will act as a resistance."
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