Currency Commentary: We expect the USDINR(Spot) to trade sideways and quote in the range of 81.80 and 82.50 Says Mr. Gaurang Somaiya, Motilal Oswal Financial Services
Currency Commentary For 23 June 2023 By Mr. Gaurang Somaiya, Forex & Bullion Analyst Motilal Oswal Financial Services
‘Rupee traded in a narrow range and volatility remained evn after the Fed Chairman's testimony
Fed Chairman mentioned that concerns over inflation remain and that led to strength in the dollar
Euro and pound fell sharply after preliminary manufacturing PMI came in below estimates
Today focus will be on the preliminary manufacturing PMI number from the US yo gauge a view for the dollar
We expect the USDINR(Spot) to trade sideways and quote in the range of 81.80 and 82.50’
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
