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Published on 1/07/2020 3:38:00 PM | Source: Emkay Global Financial Services Ltd

We expect a rally towards 76.30 in coming sessions 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 mixed risk sentiments are leading to a very lackluster trading in the forex market. Traders are unaware of which direction will the USDINR spot trade and are looking for more cues. The good news of economic recovery has been factored in so any disappointment over coronavirus or US-China trade war will hamper the market sentiments. In USDINR spot, 75.50 has been acting as a strong support. Only if it breaks then price can slump towards 75 otherwise we expect a rally towards 76.30 in coming sessions.”

 

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