FCNR redemptions to keep rupee under pressure: Raina

Ashutosh Raina, HDFC Bank says the US dollar continues to gain against most of its peers with the Dollar Index settling above 98 level.The USD/INR currency pair also came off from recent highs, in-line with other peer currencies.He expects the pair to trade around Rs 67/USD handle with FCNR redemptions also expected to keep the pair under pressure.Raina says the 10-year bonds are consolidating around 7.80 level on the back of weak global sentiment.