Perspective note on rupee 10 December 2021 By Emkay Global Financial Services
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Below is Perspective note on rupee 10 December 2021 By Currency Desk of Emkay Global Financial Services
“The fx market has been very volatile this week, with USDINR spot breaching the highest level since June 2020. The move suggests that the fx market is pricing in next week’s hawkishness from Fed. Also, there are expectations that tonight’s US CPI data will come higher than expected, acting as a catalyst to the dollar rally and making it a big fiscal and monetary concern. A hotter inflation would put pressure on the Fed to not just be aggressive with tapering the quantitative easing but also considering rate hikes next year. So next week in USDINR spot, we expect it to trade within 75.50-76.50 with a positive bias.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
