Globally, US dollar seems to recovering after the release of US flash manufacturing and service PMI data at 53.6 and 54.8 respectively. EUR/USD pair slipped below 1.18 handle after the release of weaker service and manufacturing PMI data. Asian equity continued to trade with biddish bias with Hang Seng index is trading nearly 1.5% in green.
On domestic front, equity markets are trading in green with nifty index up nearly 0.6%. India 10 year bond yield spiked above 6% after release of MPC's meeting minutes. It is note-worthy that MPC had kept interest rates unchanged due to spike in inflation. USDINR pair is trading flat near 74.90 levels. USDINR pair might find some support amid recovery in US dollar index. Intra-day range for the pair is seen 74.85-75.05
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