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U.S. DOLLAR / PAKISTANI RUPEE
Long

USDPKR Rally - Further Depreciation for the PKR

By hybridpotato
Updated
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.
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.
Trend Analysis
hybridpotato

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