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Published on 13/01/2021 4:23:15 PM | Source: Emkay Global Financial Services Ltd

Right now the risk sentiments are stuck in the race of covid-cases By Rahul Gupta, Emkay Global

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Below are Views On Right now the risk sentiments are stuck in the race of covid-cases By Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

“Right now the risk sentiments are stuck in the race of covid-cases and vaccine rollout. In the end vaccine will win but until then the fear of lockdown is hanging over the head. Locally, there are a lot of IPOs lined up this year, so overall downside in USDINR spot will retain. But the magnitude of fall depends on which level is comfortable for RBI. Lately, RBI intervention is seen around 73 zone, so USDINR spot will hover in 72.90-73 zone, with 73.50 being the immediate resistance. A break of 72.90-73 will push prices towards 72.75.”

 

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