Major developments:

USDINR is trading at 69.56 , same level as on Tuesday close. USD wobbled and weakened after Fed’s decision. 

However, USD recovered to climb back against Euro as Fed Chief said that lower inflation is due to transitory factors. 

This is interpreted as a neutral sign and not dovish as markets expected before announcement.

BOE meeting, EU CPI and US employment data are other key events for this week.

USDINR could trade in the 69.40-70.70 zone in coming days. Key support is at 69.40 and important resistances are at 

69.75 and later at 70.30. Exporters can hedge between 69.75 and 70.30. Near term imports can be covered on decline to 

69.40.

-USDINR is at 69.56. Tuesday’s close was 69.56.

-Indian Equity indices climb higher.

-Indian 10 year G-SEC yield is at 7.40%.

-USDINR 1 yr fwd premia is at 4.25%.

USDINR @ 69.56, EUR/USD 1.1206, GBP/USD @ 1.3051, USD/JPY @ 111.53, EUR/INR @ 77.94, GBP/INR @ 90.78, JPY/INR @ 62.36.

Gold@1274, WTI Crude @ 63.45, Nifty @ 11783 (+35), 10 Year G-SEC @ 7.40.