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* USD/INR rose as a result of the fast spread of Covid-19 variant omicron. Rupee settled at 74.87 on Friday.

* 10 Year US treasury yields dipped as the new Covid-19 variant spreads rapidly, initiating lockdowns across economies.

* Gold in the international market retreated $10 from the daily high on Friday. Risk aversion in fears of the rapid spread of new Covid-19 variant omicron has kept the sentiments favourable for the retreat. But the market sentiment is slightly bullish, and gold may continue to gain in the weeks to come.

* Reserve Bank has anchored ₹4791/gm as the issue price of Sovereign Gold Bond Scheme 2021-22.

* Crude oil falls headlong, hitting a two-month low after the diagnosis of omicron in South Africa and the anticipation of supply surplus in the first quarter. However the market opened with a slight increase in the crude oil futures amid the global fear of Omicron.

OUTLOOK - USDINR

The anticipated upside to 74.82 finally unfolded, with USDINR poised to achieve the second target of 75.2, as well, if momentum allows. It would require a close below 74.60 for bears to gain strength.

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