Hi,
Reasons for Dollar strengthening in this week :
- USDINR seen at 4 week high as record trade deficit fear.
- Dollar/Rupee may trade between 53.50 - 54.40 range in this week.
- Dollar may also strengthen on expectation India's inflation will remain near 7% forcing the RBI to delay more rate cuts.
- Lack of inflows will also hurt the local currency
Gain in Dollar/Rupee could,however, be capped as IIP may post a positive growth.
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