Bhaskar Panda of HDFC Bank said, "The focus is now on FOMC decision on upcoming interest rate hike in US. However, USD-INR has got wing from the probable outcome on elections."
"Given this background, expect USD-INR to trade within a range of 64.30-64.50 for today."
"In India, the 10-year benchmark yield has been slowly moving up. All eyes are on next inflation numbers. Expect the 10-year yield to remain elevated and move towards 7.25 percent gradually," he added.
Dollar steadied against a basket of major currencies as the Federal Reserve is expected to hike rates on Wednesday, though concerns about tepid inflation weighing slightly on the greenback.
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