News that Indian army conducted strikes across the Line of Control (LOC) between India and Pakistan, is on wires. This has pushed USD-INR higher by ~0.6%, equities lower by about 2% from intraday highs. While cross-border firing isn’t rare, attacks across the LOC are. Diplomatic tensions between the two countries have already been high following the attack on an Indian army camp in Uri on 18th September in which 18 Indian soldiers lost their lives and the exchange of words between India and Pakistan in the UN General Assembly recently. In fact, India (more…)