USD-INR to consolidate in 64.85-65.15 range: Bhaskar Panda

Bhaskar Panda of HDFC Bank said, “Worries of US rate hike, consequent rally in US yields, coupled with uncertainties due to the PNB episode has brought back pressure on the INR.”

“The USD-INR pair has broken through crucial 64.80 levels and traded above 65 yesterday. Today, I expect the pair to consolidate in a range of 64.85-65.15 given the dollar fall overnight.”

“The 10-year benchmark bond yield has been rallying higher after the latest MPC minutes. I expect the trend to sustain while today’s range would be 7.72-7.78 percent,” he added.