Oct 18, 2016 08:59 AM IST IST | Source: CNBC-TV18

USD-INR to trade with depreciating bias: Ashutosh Raina

USD-INR pair continues to trade in the 66.50-67/USD range with some depreciating bias, as some FII outflows continue to pressurise the pair, says Ashutosh Raina, HDFC Bank.

Ashutosh Raina, HDFC Bank said, "The USD retreated from the recent highs it hit against most of its peers, with some hawkish comments from Fed speakers increasing the probability of a December rate hike. The USD-INR pair continues to trade in the 66.50-67/USD range with some depreciating bias, as some FII outflows continue to pressurise the pair."

He further said, "Bonds have corrected from recent highs with some profit booking on the back of deteriorating risk sentiment."
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