"We are also Underweight the Indian rupee (INR), with S&P’s credit warning adding to short-term currency risks" - Standard Chartered.
The Indian Rupee (Currency:INR) is 'underweight' at Standard Chartered who have told clients they favour the US dollar as we head towards the Greek elections.
Indeed, US dollar strength is also likely to come at the expense of the EUR, AUD and the MXN.
"We are also Underweight the Indian rupee (INR), with S&P’s credit warning adding to short-term currency risks," says a note on the matter from Standard Chartered.
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Also backing the Indian Ruppee to under-perform is Barclays.
Barclays see Asian economies continuing to slow, and added risk comes in the form of the upcoming Greek elections.
Standard Chartered say:
"Political gridlock or a Syriza-led government would be a risk-negative outcome, in our view.
"In this environment, we would expect those Non-Japanese Asian currencies that have a high sensitivity to the global economic cycle and global equities, and/or relatively large EU bank exposure to underperform."
"Our analysis suggests the KRW, INR, MYR, SGD and TWD fall into this category."