USDINR,
On Tuesday, USDINR likely to commence session between 73.65 – 73.75 levels as greenback climbed to a two-week peak, bolstered by expectations the U.S. Federal Reserve could reduce its asset purchases by the end of the year despite a surge in COVID-19 cases.
• India's retail inflation eased to a four-month low in August on softer food prices as supply-side constraints eased following the lifting of pandemic-related restrictions, which may allow the central bank to focus further on economic recovery.
• The headline inflation came in softer than our expectations, largely led by the downward surprise of food prices.
• Consumer prices (CPI) rose 5.30% in August from the same month last year, lower than July's 5.59% annual inflation rate.
Day Trend: - STUCK IN RANGE (COULD BE SOME SELLING PRESSURE)
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