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News Box

* Traders weigh the risk of delta-variant virus outbreak in China.

* US futures as well as Asian stocks slip.

* US 10 year Treasury yield rose, while dollar remained steady.

* WTI at the highest since Oct 2014, brent near 3 year high

* Speculators raise US crude oil net long positions – CFTC

OUTLOOK - USDINR

Friday’s upsides evolved on anticipate lines, but lacked the momentum to register further gains. We expect this to unfold today, should 75.15 be broken, which should ideally see USDINR stepping into the 75.25-75.48 region. Inability to float above 75.02 could see USDINR slipping again to the 74.8- 74.7 vicinity, but a major collapse is less expected.

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