USD-INR to trade in 67.80-68.50/USD range: Ashutosh Raina

Ashutosh Raina, HDFC Bank said, "The USD-INR pair, tracking the overall dollar weakness, has moved closer to the 68/USD level. We expect the pair to trade in the 67.80-68.50/USD range ahead of the RBI policy decision and the all important FOMC meeting next week."He further said, "The 10-year bond yield has moved to 6.20 percent level on the back of ample liquidity conditions, demand for sovereign paper, coupled with the expectations of a rate cut from the RBI. We expect the 10-year benchmark bond yield to trade in the 6.15-6.22 percent range ahead of the policy announcement."