The Rupee seems commence Monday session with weaker note between 73.18- 73.23
levels as greenback held late-week gains on Monday as softening U.S. economic data and rising coronavirus cases turned investors cautious.
On Friday , Domestic unit opened at 73.07/08 levels against greenback, USDINR was under pressure from intraday high at 73.1625/1725 levels. Interbank day low was 72.9875 before finished at 73.04/05 levels.
INTRADAY RANGE - 72.84 ( 73.01 - 73.22 ) 73.36
The Greenback is up about 1.89% since then and the euro, which surged in 2020, has slipped more than 2% as the dollar's bounce has coincided with surging virus cases and a political crisis in Italy that have cast doubt on the region's recovery.
U.S. retail sales fell for a third straight month in December, data showed on Friday, as renewed measures to slow the spread of COVID-19 triggered job losses.
Biden's pick for Treasury Secretary, Janet Yellen, is expected to rule out seeking a weaker dollar when testifying on Capital Hill on Tuesday, the Wall Street Journal reported.
Asia Pacific stocks were mixed in early Asian session, after U.S. shares saw losses during the previous session over a lack of investor risk appetite and China released crucial data on its economic recovery process.
The China data also showed that GDP rose 6.5% YoY in the fourth quarter, above the forecast 6.1% growth and the 4.9% growth in the third quarter. The GDP grew 2.6% QoQ , this time below the forecast 3.2% and the 2.7% growth seen during the previous quarter.
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