USD-INR to trade with weakening bias: Ashutosh Raina

Ashutosh Raina, HDFC Bank said, "The USD-INR pair, despite global dollar strength, continues to trade around the 67/USD level, with aggressive intervention from Central Bank keeping it in a tight range. We expect it to trade in the 66.80-67.50/USD range in the near term with a weakening bias."He further said, "The bonds continue to trade heavy on the back of weak global sentiment, with the 10-year benchmark yield hovering around 6.85 percent. We expect the 10-year to trade in a range of 6.85-6.90 percent in the near term."