Currency Commentary 14 December 2021 by Mr. Gaurang Somaiyaa, Motilal Oswal Financial Services
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Below is the Daily Currency Commentary 14 December 2021 by Mr. Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services
“Rupee continued to remain under pressure following weakness in domestic equities and strength in the dollar against its major crosses. Weakness in the currency extended as market participants expect that the Federal Reserve in its upcoming meeting could increase the pace of tapering. At the same time, ECB and the BoE will be releasing their policy statements and that could trigger volatility for the major crosses. Today, from the US, PPI number will be released and that could trigger volatility for the dollar. We expect the USDINR (Spot) to trade with a positive bias and quote in the range of 75.70 and 76.20.”
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