If dollar rally continues, base metals may witness further weakness, says Emirates NBD - 1 Aug 2018


If the dollar continues to rally,  base metals may witness further weakness, said Dharmesh Bhatia, associate vice president, Emirates NBD.

"There is rupee-dollar volatility and the dollar is bouncing back and trying to breach  $95 mark," Bhati said.

On base metal, he said the month of June and July was very volatile. June was rallying and July showed a negative return, Bhatia said adding that in August, the market is expected to be flat and the main reason is rupee.

For short-term, the energy pack will show some kind of firmness, he said.

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