Perspective note on rupee 01 December 2021 By Emkay Global Financial Services
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Below is Perspective note on rupee 01 December 2021 By Currency Desk of Emkay Global Financial Services
“The covid comeback has made the fx market very volatile. Until there is no confidence over the global economic recovery, the USDINR spot will remain afloat. The market’s focus is on Fed Powell’s testimony in front of the House later tonight, along with a slew of US economic data. The testimony document released by the Fed and Powell’s statement in front of the Senate altered, so tonight’s speech and data will be perennial to place further hawkish bets. This week in USDINR spot, we expect it to trade in between 74.70-75.25, and as long as it trades above 74.70, it will continue to be afloat.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
