Major developments:

USD is now at 75.39. USDINR opened at 75.32. Expected range: 75.22-75.70. Indian CPI softened with food inflation falling steeply. USDINR rally paused after hitting 75.67.  US Yields also retraced, but did not deter USD Index from climbing higher. If US Yields soften and Crude prices retrace, USDINR can retrace to 75/74.65 levels.

-USDINR is at 75.39 .Prior day’s close was 75.52.

-Indian Equity indices climb.

-Indian 10 year G-SEC yield is at 6.32%.

-USDINR 1 yr fwd premia is at 4.42%.

USDINR @ 75.39, EUR/USD 1.1551, GBP/USD @ 1.3612, USD/JPY @ 113.47, EUR/INR @ 87.09, GBP/INR @ 102.61, JPY/INR @ 66.44.

Gold@1761, WTI Crude @ 80.55, Nifty @ 18122(+127), 10 Year G-SEC @ 6.32%.

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