On Wednesday , we expect USDINR likely to start trade with weaker note, opening looks between 69.75 - 69.82 levels.
The rupee is likely to under-perform amid wider-than-expected trade deficit.
Domestic unit getting pressure from emerging market currency weakness despite brent oil well below $70 per barrel.
European leaders now meet in Brussels to begin the process of filling a number of top EU posts, from the head of the European Commission to the European Central Bank.
INTRADAY RANGE - 69.55 ( 69.68 - 69.92 ) 70.12
On Tuesday, The rupee opened weak at 69.68 and declined by 22 pips to 69.74 against the greenback in early trade, owing to increased demand for the greenback from importers and banks.
The rupee had settled at 69.51 against the US dollar TUESDAY.
Investor sentiment turned positive last week -- the rupee gained one percent and stocks rose to records -- after Modi swept to a comfortable victory as predicted by nearly all exit polls.
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