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ICICI Direct recommends selling USDINR with a target of 70.90 to 70.80, expecting supply pressure at higher levels. It notes the Fed cut rates but signalled a hold, and that the yuan has appreciated toward 7.05 per dollar.
A stronger yuan and softer dollar are positive for emerging-market currencies, which can ease the cost of imported feed ingredients for Indian buyers.
moneycontrol.comOct 31, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
