On Thursday USDINR start with 15 pips weaker note @ 70.2025/70.2125 verses Wednesday finished at 70.05/70.06 levels. Sharp Wall street recovery lead Dollar Index Rebound as well as Oil Price $3.5 per barrel bounce keep domestic unit under pressure.
INTRADAY RANGE - 69.70 (69.88 - 70.35) 70.52
On Wednesday, the rupee trimmed its early sharp gains to settle 8 pips higher at 70.05/06 against the greenback mainly due to dollar buying by importers in the last hour of trade. The rupee opened on a strong note and soared 42 pips to 69.7550 a dollar against the Monday close of 70.14. Brent crude, the international benchmark, was up 0.73 per cent at USD 51.14 per barrel.
On Thursday as investors cheered signs of easing US-Sino trade tensions and stronger-than-expected US economic data, sending Wall Street stocks surging and Treasury yields up. In a dramatic turn to lift off bear-market territory, the Dow Jones Industrial Average rocketed more than 1,000 points for the first time on Wednesday, while US 10-year yields rallied around 8 basis points to end at 2.8%.
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