Major developments:

Fed has turned dovish indicating rate cut by 2020. However, there is expectation that Fed may cut rates in 2019 itself. 

USDINR reaction is muted and is now bound in the 69.30-69.90 range.

-USDINR is at 69.62. Y’day’s close was 69.70.

-Indian Equity indices climb higher.

-Indian 10 year G-SEC yield is at 6.74%.

-USDINR 1 yr fwd premia is at 4.65%.

USDINR @ 69.62, EUR/USD 1.1264, GBP/USD @ 1.2683, USD/JPY @ 107.63, EUR/INR @ 78.42, GBP/INR @ 88.30, 

JPY/INR @ 64.68.

Gold@1379, WTI Crude @ 54.70, Nifty @ 11712 (+21), 10 Year G-SEC @ 6.74.