USD-INR to trade in 63.75-64.05 range, Bond yields under pressure: Mohan Shenoi
10-year benchmark trading range for the day seen at 6.44-6.48 percent, says Mohan Shenoi of Kotak Mahindra Bank.
Mohan Shenoi of Kotak Mahindra Bank said, "Risk-off sentiment due to North Korea situation has resulted in weak global equity markets. Post strong US payroll data, the impact on dollar has been mixed. USD-INR trading range for the day 63.75-64.05."
He further added, "Bond yields are under pressure due to oversupply of Government Securities through Cash Management Bills, State Development Loans, Open market operations and scheduled auctions.""10-year benchmark trading range for the day seen at 6.44-6.48 percent," he said.