Home Economy Even if the dollar turns around, rupee may not

Even if the dollar turns around, rupee may not

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The saddest thing in the world is people being killed, hurt, terrified to fulfil some tyrant’s political goals. A parallel sadness is how the news cycle shifts focus after a period; last week was the first time since the start of Putin’s war that I noticed the lead headline in The Financial Times shifting, first to Finland and Sweden applying for NATO membership, and then to the collapse in the Dow and then to problems in China. This, perhaps, suggests that the world, while doubtless still horrified at what’s happening in Ukraine, is moving on.

Markets, of course, are amoral and ultimately dance to their own tune, and all prices move in cycles albeit with varying (and indeterminate) frequencies and amplitudes. So, whether or not the trauma in Ukraine continues, it is certain that the dollar’s rampaging bull run cannot continue forever. To be sure, with the US dollar having been the only game in town since the invasion began, other global…

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