Rupee to trade in range 66-67/USD with positive bias: Raina

Ashutosh Raina of HDFC Bank said, "A weakening USD, with dollar index touching 92.54 levels, fully retracing the rally since China FX move last year, have steadily boosted global stock markets and resulted in return of some risk-on sentiment."He further added, "The USD-INR pair continues to trade the 66-67/dollar range with good portfolio flows continuing.""We expect the pair to continue trading this range with an appreciating bias, although sharp gains may be capped by some intervention.""Bonds came off their recent lows tracking the risk on sentiment and good demand at the recent auction. We expect the 10-year benchmark yield to trade between 7.40-7.50 percent in the near term," he said.