The 10-year benchmark yield movement will depend on the RBI policy stance, says Bhaskar Panda of HDFC Bank .
Bhaskar Panda of HDFC Bank said, "The weekend saw the US Senate pass the tax bill. The dollar index got support from this fact. In India, RBI policy is awaited."
"Meanwhile, USD-INR pair has been under pressure i.e. on the side of rupee appreciation. The trend would continue. I expect the pair to trade within a range of 64.30-64.50.""The 10-year benchmark yield movement will depend on the RBI policy stance. Before that, it would be rangebound within 7.05-7.10 percent," he added.