After strong selling in dollar index last cupule of days , USDINR hanging around 74.05 / 74.15 marks , it seems the pair establishing new support near 74.00 levels. We are expecting Rupee likely to commence Tuesday session with weaker note despite greenback was down on early morning in Asia, with riskier currencies boosted by the news that U.S. President-elect Joe Biden is set to nominate Janet Yellen as the U.S. Secretary of the Treasury.
The Serum Institute of India, world's largest manufacturer of vaccines by volume, will first focus on supplying AstraZeneca Plc's COVID-19 vaccine to Indians before distributing it to other countries, Serum's Chief Executive Adar Poonawalla said.
China hailed as a success its pre-dawn launch on Tuesday of a robotic spacecraft to bring back rocks from the moon in the first bid by any country to retrieve lunar surface samples since the 1970s, a mission underscoring Chinese ambitions in space.
INTRADAY RANGE - 73.89 ( 74.03 - 74.28 ) 74.43
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Yellen, a former Federal Reserve Chairman, will be the latest nomination to the Biden cabinet. Already hinting at how she will tackle her role, she called for increased government spending to boost the COVID-19-ravaged U.S. economy. She has also often cited growing U.S. economic inequality as a threat to U.S. values and the country’s future.
U.S. President Donald Trump’s go-ahead to General Services Administration head Emily Murphy to proceed with assisting the Biden administration's transition to government also increased risk appetite as the first steps towards acknowledging the election results. However, Trump is still planning to continue his legal challenges over the same results.
Japanese markets reopened after national holiday on Monday. The safe-haven yen is slowing reversing a slip of around 0.6% seen during the previous session.
The pound was staying close to a near 12-week high against the dollar thanks to investor bets that the U.K. and the European Union will finally seal a Brexit trade deal soon. Negotiations between the two parties continue this week, racing to beat the end-of-year deadline for a deal.
Global oil prices hit the highest level since March as hopes for a vaccine rollout within weeks brightened the outlook for fuel consumption.
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