01-01-1970 12:00 AM | Source: Motilal Oswal Financial Services Ltd
Currency commentary 22 May 2022 by Mr. Gaurang Somaiya, Motilal Oswal Financial Services
Below is currency commentary 22 May 2022 by Mr. Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
Rupee fell towards fresh all time lows especially as the dollar rose against its major crosses. The greenback rose ahead of the Fed Chairman’s testimony. Expectation is that the commentary could be hawkish and that could support the dollar at lower levels. Pound fell sharply after UK CPI in May came in line with estimates.
We expect the USDINR to trade sideways but with a positive bias quote in the range of 77.70 and 78.50.
Above views are of the author and not of the website kindly read disclaimer
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