Welcome back after the weekend.
We saw strong Bearish trend today in the pair USD/INR which opened at 62.31 and Closed around 62.09
The Dayhigh, 62.35 was hit soon after today’s opening and the Daylow was 62.0525
RBI is about to announce a change in Bank Interest rates tomorrow and market is anticipating another cut like last month. Do you think this is the reason for today’s bearish movement? My answer is NO.