Major developments:

USD is now at 74.99. USDINR opened at 74.98. Expect 74.80-75.05 range for the day. USD gained against majors as Fed did not provide further clue on how the dovish policy will be expanded and extended. There was expectation of changing inflation target also. US Equity indices retreated from its all time highs. Indian Equity indices look stretched and participants are wary of futher rally.

-USDINR is at 74.99. Prior day’s close was 74.82.

-Indian Equity indices decline.

-Indian 10 year G-SEC yield is at 6%.

-USDINR 1 yr fwd premia is at 4.03%.

USDINR @ 74.99, EUR/USD 1.1835, GBP/USD @ 1.3087, USD/JPY @ 106.09, EUR/INR @ 88.76, GBP/INR @ 98.14, JPY/INR @ 70.70.

Gold@1952, WTI Crude @ 42.70, Nifty @ 11338(-69), 10 Year G-SEC @ 6.00.

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