On Wednesday , USDINR likely to start trade with weaker note on overnight Dollar index recovery as well as Oil future trading 4 week higher level.
Opening looks between 69.40/47 levels.
Fed Chair Powell trim aggressive cut on interest rate in 2019, supported by St. Louis Fed President James Bullard does not think the U.S. economy is dire enough to warrant a 50-basis-point cut in July.
Bond Yields fall supportive for rupee for shorter term.
EM ASIA FX-Down; Thai baht, South Korean won top losers.
INTRADAY RANGE - 69.12 ( 69.28 - 69.52 ) 69.72
On Tuesday, The government and the Reserve Bank of India (RBI) are closely monitoring the rupee exchange rate against the dollar on an on-going basis, Finance Minister Nirmala Sitharaman.
The rupee advanced 13 pips to 69.22 against the US dollar in the early trade due to weakening of the greenback against major currencies.
The local currency, however, opened the day at 69.31 per dollar, up 3 pips against the previous close of 69.35.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 95.95.
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