WEDNESDAY USDINR OUTLOOK:- USDINR BUILDING BASE!!
- fxmethods
- Jan 5, 2022
- 1 min read
USDINR
On Wednesday, USDINR is likely to commence session between 74.50 – 74.60 levels as the dollar rose for a fifth straight day against the Japanese yen, hitting a five-year high as investors viewed the Omicron variant as not likely to derail the global economy or delay the Federal Reserve's expected rate hikes.
U.S. Treasury yields on expectations for a Fed rate hike this year have supported the greenback, with those foreseeing at least a 25-basis-point hike at the March meeting of the central bank's policy-setting committee topping 60%, the CME FedWatch Tool found.
Yields on U.S. 5yr notes, which are sensitive to rate hike expectations, reached the highest level since February 2020. Yields on U.S. 2-year notes, which also reflect the market's view on interest rates, edged lower after touching a 22-month high on Monday.
Billionaire entrepreneur Elon Musk's Starlink satellite internet venture told its members on Tuesday the Indian government had asked the company to refund all its pre-orders until it receives licences to operate in the country.
An Indian court on Tuesday dismissed Future Retail's plea to declare arbitration proceedings with its warring partner Amazon.com Inc as illegal.
The ruling came after Future urged a New Delhi judge that given India's antitrust agency had suspended a 2019 deal used by Amazon to assert rights over Future, there was no legal basis for the arbitration between the two sides to continue.
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