Currency Market Review: Indian Rupee Surges
Summary:
- The Pound Sterling rises against the Canadian dollar.
- The US dollar/Indian rupee pair was a notable currency pair.
- The Brazilian real is weak against the US dollar.
GBP/CAD
The pound sterling has strengthened against Canadian dollar, increase by 2.73% over the 14 day period from 25th February to the 11th March in agreement with the I Know First forecast. The pound sterling keeps rising waiting for a Brexit with deal or a delay. There is still concern about the result, but there are low possibilities for a no deal Brexit.
USD/INR
Indian Rupee rises against US dollar. In 14 days increased by 2.89% in good agreement with I Know First forecast. The rise in the foreign investment into the Indian stock market is strengthening the Indian rupee. Investors are expectant of a second term for the current government in the next elections.
USD/BRL
US dollar raised against the Brazilian real by 2.43% in 14 days. Due to Brazil’s large fiscal deficit, its economy is relatively weak and the US dollar has strengthened against the Brazilian currency. President Bolsonaro is willing to change the pension system and could see over 1 trillion Real saved over the course of a decade.
Please note for trading decisions please use the most updated forecast results.
