Indian rupee inched higher to 4 week highs and settled at 74.9 due to a firm trend in domestic - Geojit Financial
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* Indian rupee inched higher to 4 week highs and settled at 74.9 due to a firm trend in domestic equities and rising appetite for riskier assets
* Gold price was on a positive stretch on Monday while the market remains mixed amid omicron woes.
* Crude oil futures rose as omicron concerns ease off, while flights were cancelled en masse due to Covid-19 spread
* 10 Yr. US treasury yields slipped after the investors assess the omicron threat and associated economic data.
OUTLOOK - USDINR
The 3 day streak of lower highs and lower lows reflects the strong bearish bias. But the long tails on all these days of lower close, suggests that relentless efforts were being made to fight off the bears. We will look for a swing higher towards 75.2-75.35 as long as 74.82 holds, but will start looking for upside momentum only on consistent trades above 74.97.
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