Expect USD-INR to trade in 66.70-66.95/USD range: K.Karthik Raja

Expect USD-INR to trade in 66.70-66.95/USD range: K.Karthik Raja


The 10-year benchmark yield is expected to trade in a range of 7.08-7.12 percent for the day, says K.Karthik Raja

Currencies

K.Karthik Raja said, "Despite strong payroll data, currency markets still believe that there will be no Fed rate hike in CY16. We expect the USD-INR pair to trade in a range of 66.70-66.95/USD for the day."

He further said, "Higher CPI and WPI prints for July has halted the bond rally. The 10-year benchmark yield is expected to trade in a range of 7.08-7.12 percent for the day."
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