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Published on 30/01/2020 8:21:35 PM | Source: Emkay Global Financial Services Ltd

Views Quote on US Fed Policy Decision By Mr. Rahul Gupta

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Below is the Views On Quote on US Fed Policy Decision By Mr. Rahul Gupta, Head of Research - Currency, Emkay Global Financial Services

“As expected, FOMC kept interest rates unchanged at 1.5-1.75% and gave a positive picture of the US economy. However, Powell expressed concern over inability to get inflation to the 2% level and the fact that corona virus can be the new risk on the horizon. This led to a safe-haven demand in dollar index and we saw a gap up opening in USD/INR spot. If the rapid spread of the virus becomes a global emergency then we can see USD/INR spot to rallying towards 71.80/72.00 zone. Meanwhile, we have the Union Budget this weekend, ahead of which spot may remain on an edge.”

 

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