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* RBI announces 3-day VRRR auction to absorb about ₹2 lakh crores from the banking system.

* The Indian rupee rose for the fifth consecutive day helped by firm domestic equity markets and a subdued dollar overseas.

* Crude oil futures rose – WTI by 0.5% and Brent by 0.2% – after several countries relaxed travel and quarantine restrictions, and renewed vaccination policies ultimately weakening the US Dollar.

* US Dollar weakened as investors expect mixed economic data and the financial market shows signs of a rebound.

* 10 Year US treasury yields traded lower ahead of holidays as market awaits the US economic data, and the government responses towards the pandemic.

OUTLOOK - USDINR

Yesterday’s bounce back attempts could not stretch beyond 75.665, and ongoing downtrend gained more momentum. Favoured view expects, USDINR to consolidate within the 75.66-75.38 band a break of lower range could call for 75.06

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