The trading range for the spot USD-INR pair is seen between 64-64.20, says Pramit Brahmbhatt of Veracity.
The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 6 paise at 64.18 per dollar versus 64.12 Tuesday.
Pramit Brahmbhatt of Veracity said, "The rupee will continue to trade sideways in the absence of any directional cues. The trading range for the spot USD-INR pair is seen between 64-64.20."
The dollar fell versus the yen to near its lowest levels since mid-April pressured by simmering tensions on the Korean peninsula and on comments by a Federal Reserve governor about low US inflation.
Dhawal Dalal of Edelweiss AMC said, "We expect government bond prices to remain rangebound with an upward bias in the near term. August saw steepening of the yield curve amid lack of positive triggers and position adjustment after the rate cut.""We expect value buying to emerge gradually," he said.