Indian rupee opens higher at 63.98 per dollar
Trading range for the spot USD-INR pair will be 63.80-64.20, says Pramit Brahmbhatt of Veracity.
The Indian rupee opened higher by 6 paise at 63.98 per dollar on Wednesday versus 64.04 Tuesday.
Pramit Brahmbhatt of Veracity said, "Easing of North Korea problem helped dollar find support at 63.80 mark. As far as it trades above 63.80, bias will remain positive towards dollar."
"Trading range for the spot USD-INR pair will be 63.80-64.20," he added.
The dollar extended its sharp rally against the yen, although it was capped against the euro with a potentially supportive spike in US yields neutralized by a similar move by their German counterparts.The pound hovers within distance of a one-year high after a robust UK inflation report added pressure on the Bank Of England to do more to support the currency.