Maybe market has started to see through all of this geopolitical noise and it is the way things have been. Currencies have not been able to follow-through, it looks like the market is finally putting geopolitics as a driver in the backseat. If it is in the backseat then what is in the frontseat? It goes back to conditions which prevailed in January, conditions that market witnessed back in January – market looking to what the Fed will do and how much it will do in terms of rate increases to control inflation.

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All of this should play out unless and of course there shouldn’t be any military escalation. Nothing is ruled out but looking at what the market is telling you, this seems like what could play out.

Watch the accompanying video of CNBC-TV18’s Prashant Nair for more details.

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