Though upside bias continued yesterday on anticipated line - Geojit Financial
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* Spike In yields add to concerns about lofty equity valuations.
*US 10 year note briefly climbed above1.5%, its highest level since June.
* A majority ofG10 currencies fell as the dollar pared early morning declines.
* Asian equities slip as Evergrande misses more interest payments.
* RBI to hold reverse repo and state’s govt bond auctions.
* Fin min officials may pitch for a sovereign rating upgrade in meeting with Moody’s.
OUTLOOK - USDINR
Though upside bias continued yesterday on anticipated lines, the vertical rise towards 74- 74.2 is yet to unfold. We will go in today continuing to expect upsides, but inability to float above 73.77 could dilute this bias, and resign the trend into a consolidation mode or give a slight negative bias.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
