USD-INR to trade in 65-65.30 range, bond market subdued ahead of CPI data: Mohan Shenoi
Oct 12, 2017 08:10 AM IST | Source: CNBC-TV18
We expect the 10-year benchmark bond yield to trade in a range of 6.72-6.76 percent for the day, says Mohan Shenoi of Kotak Mahindra.
Mohan Shenoi of Kotak Mahindra Bank said, “The US FOMC minutes look to confirm a December rate hike while terming below target inflation as transitory. The dollar remains rangebound against majors.”
“We expect the USD-INR pair to be rangebound within a trading range of 65-65.30 today.”
“Bond market is subdued ahead of release of CPI inflation data today evening. Continued supply of OMO sale today and scheduled auction tomorrow should deter building of positions in the G-Sec market.”
“We expect the 10-year benchmark bond yield to trade in a range of 6.72-6.76 percent for the day,” he said.