USDPKR Rally - Further Depreciation for the PKR
Key timelines in Pak political timeline are marked, no significant developments in last two weeks.
- DXY Strengthening is a cue for further falling for PKR
- Inflation stands at 40% YoY for the Sensitive Price Index.
- Inflation since 2022 Jan is ~25% on official records.
Already made loss of 30% since YTD. Further falling expected.
- DXY Strengthening is a cue for further falling for PKR
- Inflation stands at 40% YoY for the Sensitive Price Index.
- Inflation since 2022 Jan is ~25% on official records.
Already made loss of 30% since YTD. Further falling expected.
Comment:
We've double topped, $DXY may have also reached its peak, let's see what happens, personally expecting a quick rebound on the $DXY to the upside over the coming weeks, then a freefall after the start of the new year (based on the megaphone pattern). $USDPKR would remain conditionally neutral.