I make a big deal about India and its Central Banker, Raghuram Rajan. He stands out among global bankers for his willingness to fight inflation and credit bubbles as needed.
But I have to tell you that I think I made a mistake using the Stockcharts.com Rupee chart as apparently, it is either an inverted view or a view of USD vs. Rupee. I have not been able to determine which, if either of those cases are correct. But I made an assumption that it worked like the other symbols at Stockcharts ($CDW, $XAD, $XEU, $XJY, etc.).
My use (or more accurately, interpretation) of the chart was wrong according to a couple of readers. The reason I think they may be right is because I am the furthest thing from a FOREX trader. I may churn too many charts in trying to put a wide spectrum of macro indicators in view and that is something to think about; maybe dial it back a bit and focus more.
Anyway, it appears I was W.R.O.N.G. to use that chart. It is not the first time I’ve been wrong and sadly, it’s probably not the last. I do believe in honesty and continuous improvement, however. Hence this post. Also, I would enthusiastically receive education on the matter! Just use the contact link above.
