Mohan Shenoi of Kotak Mahindra Bank said, "Higher than expected US CPI has increased the probability of Fed rate hikes to 4 times this year including March. This coupled with sudden spurt in oil prices weakened the dollar and exerted upward pressure on US Treasury yields."
"In-line with the global trend, the rupee is expected to strengthen against dollar today with a trading range of between 63.85-64.15."
"The bond market in India is expected to be bearish today on the back of higher crude oil prices and US Treasury yields."
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