On start of the week , USDINR likely to start with mild positive note but seems in range as dollar held steady against most currencies.
On Friday , Rupee trading range was 75.02 - 74.59 levels against greenback before ended at 74.63 levels.
Hundreds of scientists say there is evidence that novel corona-virus in smaller particles in the air can infect people and are calling for the World Health Organization to revise recommendations, the New York Times reported on Saturday.
INTRADAY RANGE - 74.29 ( 74.53 - 75.08 ) 75.33
GLOBAL HIGHLIGHTS
The US Navy is deploying its two nuclear-powered aircraft carriers - USS Nimitz and USS Ronald Reagan - to conduct exercises in the South China Sea, piling pressure on an ambitious Beijing that has opened multiple fronts including one with India along the Line of Actual Control in Ladakh. The US super-carriers are reported to be crossing Luzon Strait, the strait between Taiwan and Luzon island of the Philippines that connects Philippine Sea to the South China Sea.
The greenback has been locked into narrow trading ranges recently as concerns about a resurgence in U.S. corona-virus infections offset growing optimism about the economy.
EUR/USD rose 0.2% to $1.1270 moved in a narrow range before economic data from Germany and the euro zone that are also forecast to show a sharp rebound in corporate activity and retail sales, which would ease concerns about the economic outlook. Against the British pound, the common currency edged up to 90.29 pence.
USDJPY drifted lower against most major currencies as gains in Asian share prices encouraged some risk-on trades. The dollar edged up to 107.73 yen in Asia following a 0.3% gain last week. Market activity was subdued following the July 4 long weekend holiday in the United States.
The onshore yuan rose slightly to 7.0570 per dollar on Monday, also drawing strength from a jump in Chinese share prices to the highest in five years as investors shrugged off concerns about diplomatic tension between the United States and China.
The Aussie is another market focus ahead of a Reserve Bank of Australia (RBA) policy meeting on Tuesday. Analysts expect rates will stay at 0.25% amid signs Australia's economic downturn will not be as dire as first feared.
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