India Conviction Waning?
The best lack all conviction, while the worst are full of passionate intensity. -- William Butler Yeats
In my writings on Real Money Pro, I usually focus my attentions on the currency markets as it relates to risk-on/off sentiment and where money appears to be flowing. I like to watch India's rupee (ICN) due to its historic behavior and ability to trend relatively well. In late June, I argued a meaningful rally was likely in the currency relative to the dollar. Given the capital flight from the currency due to high inflation and fears over retroactive taxes placed on foreign investors, Prime Minster Singh was forced to act, announcing major economic reform proposals to bring confidence back. This served as a catalyst for a spring-coiled move in the rupee as money quickly positioned into risk assets....212 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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