USDINR
On Thursday, The Domestic unit (Rupee) likely to commence session between 74.10 – 74.20 as greenback little changed on Wednesday as oil prices slowed after a big two-day advance, U.S. Treasury yields moved higher and investors awaited clues on the tapering of economic support by the Federal Reserve at this week's Jackson Hole symposium.
Day Trend: - BUY ON DIP (TILL HOLD 74.00).
INTRADAY RANGE :-74.41(74.28-74.15) 74.04
THE POWELL
Markets expect Powell to sound dovish and echo concerns last week by Robert Kaplan, the Dallas Fed president, who said he might reconsider the start to tapering due to the Delta variant of the coronavirus, said Shaun Osborne, chief FX strategist at Scotia bank in Toronto.
USA 10 YEAR YIELDS
The dollar picked up support as Treasury yields nudged higher. The benchmark 10-year Treasury later rose 5.8 basis points to yield 1.3475%. Algorithmic traders selling Treasuries after the 10-year yields broke above their daily 200-day moving average may have exacerbated the gains.
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