24 Oct 2013
Flash: Bullish on Indian Rupee near term - JPMorgan
FXstreet.com (Barcelona) - Near-term domestic developments should allow the rupee to benefit from a global range bound environment. according to JP Morgan Global FX Strategy Team.
Key Quotes
" The trade data has materially improved in the recent months reflecting a narrowing BoP financing gap. Prospects for both debt and equity portfolio inflow have improved recently. Political developments in November may turn out positive for India."
"We have turned tactically bullish on rupee as we think there is potential for marginal appreciation in the near term."
"Rupee can appreciate from current level and could test 60 or even break lower as supportive policies and favorable global backdrop continue to remain in place."
Key Quotes
" The trade data has materially improved in the recent months reflecting a narrowing BoP financing gap. Prospects for both debt and equity portfolio inflow have improved recently. Political developments in November may turn out positive for India."
"We have turned tactically bullish on rupee as we think there is potential for marginal appreciation in the near term."
"Rupee can appreciate from current level and could test 60 or even break lower as supportive policies and favorable global backdrop continue to remain in place."