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Yield curve flattened to the lowest in over a year. Japanese yen was the biggest loser- Geojit Financial
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* Fed holds rates. Dollar fluctuated against the G10 peers after Fed chair said it would be appropriate to end tapering around mid 2022.
* Yield curve flattened to the lowest in over a year. Japanese yen was the biggest loser.
* RBI will conduct open market bond purchases and sale in operation Twist style special open market operations.
* UAE-India aim to double trade to $100 billion in five years.
* India Apr-Jul total FDI inflow grew 62% y/y at $27.37b
OUTLOOK - USDINR
The range breakout that we discussed about yesterday is expected to unfold today. A firm close yesterday hints that momentum is favouring a test of 74-74.22. However, inability to float above 73.74 resign it back into a consolidation mode, with support seen at 73.58.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
