Ashutosh Raina of HDFC Bank said, "In the run up to the March FOMC next week, the probability of Fed hiking rates has gone up substantially. While the rupee continues to gain on the back of sustained portfolio inflows, depreciation is likely as the dollar continues to gain.""We expect the USD-INR pair to trade in a range of 66.60-66.90/dollar today," he added."The bonds, after the brief short covering rally, have corrected from recent highs with the 10-year bond yields hovering around 6.85 percent. We expect bond yields to trade sideways in the run up to the state election results and upcoming FOMC meet," he said.
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