Expect stress on rupee in near to medium term: Patnaik

Tirthankar Patnaik, Mizuho Bank said, "We are expecting a pause today given inflation outlook especially on food. We expect the Rupee to remain tight near the Rs 64/USD levels. We could see some stress on the Rupee in the near to medium term especially given the heightened risk-off environment."
He further said, "Bonds should be rangebound at the moment. We do not expect much action on the bonds considering expectations of a pause today. We expect the benchmark yield to be ranged between 7.75-7.81% over the next 4 weeks."