The euro hit an 11-month high against the dollar on Monday on fading prospects of an interest rate cut in Europe, while world equity markets ticked lower following gains that took them to more than one-year highs.
In an interview to CNBC-TV18, Callum Henderson of Standard Chartered Bank says the fall in the rupee is far from over. He expects the rupee to depreciate even further next month, touching 54.30 to the dollar.
Callum Henderson,MD, Global Head Of FX Research, Global Research Standard Chartered Bank takes CNBC-TV18's viewers through what to expect from the Euro area and what does the Greek debt default really mean to various asset classes and to the currency pairs.
In an interview to CNBC-TV18, Callum Henderson, Standard Chartered Bank said, the rupee will trade in a range of around 46-46.50 in the very short-term. “We think that most of the negatives in the INR are in the price, but in the very short-term, we could see a more choppy trade.”
Callum Henderson, managing director and global head of FX Research at Standard Chartered Bank told CNBC-TV18 that he expects the equity related currencies to stabilise and recover over the next few weeks.
Callum Henderson of Standard Chartered Bank in an interview on CNBC-TV18 gives his perspective on the different currencies pitting against the dollar and what the road ahead looks like for the currency space.
Callum Henderson of Standard Chartered Bank spoke about the weakening mode of the dollar and if a reversal in direction is around the corner. He also spoke about a wide basket of currencies like the yen, euro and the rupee and how he sees these currencies panning out over the course of the calendar year.