Indian rupee opens higher at 65.36 per dollar
I expect the USD-INR pair to trade in a range of 65.20-65.80, says Pramit Brahmbhatt of Veracity.
The Indian rupee opened higher by 14 paise at 65.36 per dollar on Wednesday versus previous close 65.50.
Pramit Brahmbhatt of Veracity said, "After consolidation, the rupee will trade with a neutral to negative bias. I expect the USD-INR pair to trade in a range of 65.20-65.80."
Dollar eased in trade as the rally triggered by strong US data fizzled on speculation that US president Donald Trump's choice for the next Fed chair may be a less hawkish candidate than previously thought.
Investors will also be watching for a raft of economic data culminating in Friday's US employment report for September.
Dhawal Dalal of Edelweiss AMC said, "Recent price action suggests market participants expect the MPC to maintain a dovish tone. The market will be keen to understand the liquidity stance and MPC's thoughts on deteriorating CAD and likely increase in the Fiscal Deficit."
"We are cautiously optimistic on government bonds and expect the 10-year benchmark bond yield to trade between the 6.60-6.70 percent in the near term," he added.
