Moderate risk off environment continues globally with US bombers flying over Korean peninsula yesterday morning and then Trump recognizing Jerusalem as Israel’s capital. On the other hand commodities have registered mild losses this week as Chinese shares continuously and gradually edge lower. On the charts the price action is similar to profit taking and does not show any panic though.
USDINR 1m NDF is trading 2p right similar to yesterday. EM currencies have mildly appreciated since yesterday night. Asian equities are mixed while Nifty is positive 0.45%. Market chatter suggest inflow of USD 500 mio over the next 2 days which can keep INR strong. CMP 64.53, Range 64.60-64.40.
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