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Published on 28/10/2020 2:32:25 PM | Source: Emkay Global Financial Services Ltd

USDINR afloat but until it is below the 74 mark By Rahul Gupta, Emkay Global

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Below are Views On USDINR afloat but until it is below the 74 mark By Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

“The toxic brew of no US fiscal stimulus and rapidly rising coronavirus cases are dwindling the market sentiments especially ahead of the US election event risk. The spot is not breaking the psychological level 74, the odds of spot going beyond 74 remains high as market volatility has started to rise. The looming uncertainty over the US Presidential outcome will keep USDINR afloat but until it is below the 74 mark, we may expect it to trade in between 73.40–74. Only a consistent trading above 74, will push prices towards 74.20 zone.”

 

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