USDINR
On Thursday, we are expecting the USDINR pair to commence a session between 74.40-74.50 levels as the greenback jump in the Asian session after minutes released from the Federal Reserve's December meeting showed the U.S. central bank may need to act more quickly in hiking interest rates to combat inflation.
Fed officials said the "very tight" U.S. labour market might warrant raising rates sooner than expected as well as reducing the bank's overall asset holdings to tame high inflation, minutes of their Dec. 14-15 policy meeting showed.
A diabetic man who died in the western state of Rajasthan was India's first fatality from the Omicron COVID-19 variant, the health ministry said on Wednesday, adding that overall infections had doubled to 58,097 over the past four days.
Indian shares rose for a fourth straight session on Wednesday, lifted by a rally in banking and financial stocks, recovering from a dip earlier in the day on concerns over a spike in coronavirus cases in the country.
Day Trend: - BUY ON DIP
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