On Tuesday , Rupee is maintaining winning momentum hovering around medium term support levels at 72.25/26 levels , The Domestic unit likely to commence session within 72.35 - 72.43 levels as greenback below recent highs as investors looked to fresh comments from top U.S. policy makers to gauge how far they would allow U.S. bond yields to rise.
On Last session (Monday), USDINR opened at 72.48/49 then slipped till intraday lows at 72.3250/3350 before finished at 72.37/38 levels.
NOTE : - Exporters intact with option strategies.
INTRADAY RANGE - 72.10 ( 72.27 - 72.49) 72.65
GLOBAL OUTLOOK
The 10 year U.S. Treasury yield eased from its highest level in over a year, raising hopes of improved demand in the U.S. Treasury’s auctions of two-, five- and seven-year debt throughout the week.
Aluminum prices hit their highest since June 2018 as investors worried Chinese efforts to reduce smelter pollution would curb output.
Crude oil prices steadied after a sell-off, even as new European coronavirus lockdowns damped hopes of a quick recovery.
UK market mood has been dampened by growing tensions between the UK and the EU over the bloc’s threat to ban exports of the Astra Zeneca coronavirus vaccine to the UK.
Prime Minister Boris Johnson is now in discussions with the EU to prevent a possible delay in the UK receiving crucial vaccines.
Turkey could dust off a range of strategies to defend its sliding lira after President Tayyip Erdogan abruptly replaced the central bank governor -- including limits on currency swaps, interventions by state banks and even capital controls.
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