Forex Market News

Rupee Seen In Range Of 64.20-64.55 Against Dollar

The rupee will trade in the range of 64.20-64.55 against the dollar, the rupee closed marginally stronger in the previous session on the back of inflow and dovish monetary policy. The global markets are expected to be cautions today in view of the ECB meeting, UK elections and Comey testimony, according to Mohan Shenoi, Kotak Mahindra Bank.
He further added on bond yield the lowering of inflation forecast followed by a dovish statement by the RBI has made the bond market bullish. Lower Brent crude price and continue FII flows are likely to push yields. He expects 6.79% bond yield to trade in the range of 6.52-6.57% for the day.
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