Ashok Gautam, Axis Bank said, "Weaker US December payroll erases hopes of QE taper in January 29 FOMC meet. FIIs bought over Rs 25,000 crore worth Indian bonds in the recent past and the quantum could increase in coming days."
"Strength in Indian equities will have a positive impact on the rupee. Dollar-rupee breached the support of 61.90/USD and could drive towards 60.90/USD support levels. The range is seen between 61.50-62.50/USD," he added.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
