USD-INR trading range for the day is 63.55-63.85, says Mohan Shenoi of Kotak Mahindra Bank.
The Indian rupee gained in the early trade on Thursday. It has opened higher by 4 paise at 63.65 per dollar versus 63.59 Wednesday.
Mohan Shenoi of Kotak Mahindra Bank said, "Rupee has settled in the 63.25-64 range and the next trigger can come from the Union Budget. USD-INR trading range for the day is 63.55-63.85."
He further added, "Bonds continue to trade on a negative note on account of higher oil prices, expectation of higher CPI and rise in global bond yields."
"The new 10-year benchmark's expected trading range for the day is 7.24-7.27 percent," he said.The US dollar on the backfoot on report of China slowing down or halting purchase of US Treasury yields.