Globally, major
currency pair continued their trends amid lack of key economic data release.
The EUR/USD pair slipped to near two month low of 1.1020, as German Ifo
Business Climate released at 95.9 against previous reading of 96.3. US dollar
index, which is trading near 97.90 levels, will take further cues from consumer
confidence and durable goods order data. On the other hand, USDCNH is surged to
fresh high at 6.9750 amid concerns regarding Coronavirus. Consequently, Japanese
Yen is trading near 109 handle and US 10 year bond yield 1.62%.
On domestic front, Government announced fresh disinvestment plan of Air India with better terms. This time government is willing to sell 100% stake and it has also carved out debt liability to one-third. 10 year bond yield is trading flat at 6.56%. On currency front, USDINR pair is trading at 71.35-71.36 levels. Technically, USDINR is expected to test 71.25-27 levels and 71.51 on higher side.
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