USD-INR to trade between 66.70-67: Mohan Shenoi

Mohan Shenoi of Kotak Mahindra Bank said, "Dollar rally looks to have lost steam despite Fed chair Yellen's hawkish testimony and uncertainty regarding Trump's economic & foreign policy.""Rupee has been resilient on the back of change in monetary policy stance of RBI. The USD -INR is expected to trade in the range of 66.70-67 for the day.""Higher WPI, sticky core CPI inflation and surge in US 10-year yield has turned bond market negative. Despite announcement of buy back of Rs 20,000 crore of short dates securities by government, the sentiment remains weak. Expected trading range for the day is 6.85-6.90 percent," he added.