We expect the pair to continue trading in the 66-67/dollar range with a slight weakening bias, says Ashutosh Raina of HDFC Bank.
The Indian rupee opened lower by 8 paise at 66.66 per dollar on Tuesday versus previous close of 66.58. Ashutosh Raina of HDFC Bank said, "The USD-INR pair has come off from recent highs tracking global dollar strength."
"We expect the pair to continue trading in the 66-67/dollar range with a slight weakening bias," he added. The dollar rose broadly as investors moved to cover bearish bets and oil-linked currencies fell.
The yen hit a roughly two-week low after Japan's finance minister said Tokyo was ready to intervene in the currency market if needed, with stronger risk sentiment also easing demand for traditional safe havens such as the Japanese currency.ea
"We expect the pair to continue trading in the 66-67/dollar range with a slight weakening bias," he added. The dollar rose broadly as investors moved to cover bearish bets and oil-linked currencies fell.
The yen hit a roughly two-week low after Japan's finance minister said Tokyo was ready to intervene in the currency market if needed, with stronger risk sentiment also easing demand for traditional safe havens such as the Japanese currency.ea
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