Global purchasing managers have been seeking to de-risk procurement from China for many years. They have been working on this, but post-COVID and due to recent geopolitical challenges, this trend has accelerated.
The Indian rupee slipped to its weakest closing level on record on Monday, pressured by a decline in the offshore Chinese yuan and broad-based dollar
The 200-day EMA support at 23,700 has been breached again amid choppy movements, with the downside gap from December 19 remaining unfilled after seven sessions.
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