On Tuesday , Indian Rupee likely to start with firm note as dollar index teetered near milestone lows, after a triple blow of retreating yields, soft U.S. economic data and a dip in safe-haven demand exerted broad selling pressure. Yesterday , USDINR broadly stuck in range between 74.92-74.7850 before finished at 74.88 levels.
INTRADAY RANGE - 74.23 ( 74.64 - 74.91 ) 75.04
GLOBAL HIGHLIGHTS
A fresh rally in tech stocks added to the positive mood, and together with a pullback in U.S. yields and a weak reading in a U.S. manufacturing survey has many traders sticking to their bearish convictions on the dollar.
Net bearish bets on the U.S. dollar grew to their largest since May 2011 last week and spot trade in recent days suggest the position has only grown further since.The dollar sat at an eight-session low of 92.65.
The British pound was stalled around $1.1311 as investors are watching the latest round of Brexit negotiations, with the future of London's financial institutions' access to the European market in focus.
The euro last sat at $1.1888, just below a recent two-year high of $1.1916.
The Aussie was steady at $0.7215 and close to an 18-month top of 0.$7242 hit on Aug. 7.
The Japanese yen rose back past 106-per-dollar to 105.62 after a 2.6 basis point drop in benchmark U.S. 10-year government bond yields overnight.
The yuan sat at 6.9306 per dollar, within range of a five-month high of 6.9280, despite the Trump administration flagging a further tightening of restrictions against Chinese tech gear maker Huawei.
Investors expect the release of U.S. Federal Reserve minutes on Wednesday to possibly determine the next moves.
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