Rupee to trade between 65.05-65.25, says Bhaskar Panda

Bhaskar Panda of HDFC Bank said, “The dollar index had rallied past the 90 mark ahead of US non-farm payroll numbers today. I expect the USD-INR to open a little higher today and trade in a range of 65.05-65.25 for the day.”

He further added, “The 10-year benchmark bond yield has started re-aligning to reality after touching a recent high. I expect the yield to trade within a range of 7.64-7.68 percent today.”

The dollar index strengthened versus major currencies, while the euro falls as Mario Draghi raises caution on inflation, protectionism.