Forex traders said the appreciation in the local unit could be restricted amid a sharp rise coronavirus infections and fatalities in the country and as investors await the US Federal Reserve’s monetary policy outcome.
Safe assets like gold, Japanese Yen and US treasuries have rallied sharply during this time of distress but unlike treasuries, gold hasn’t been able to hold its gains, writes financial analyst Praveen Singh
It is difficult to predict how the stock market will move. When there is panic, investors tend to make their decisions emotionally, rather than rationally. This is a Black Swan event, whose impact may be deeper and longer than what was estimated a few weeks ago