Indian rupee opens higher at 62.89 per dollarIndian rupee opened higher at 62.89 per dollar on Friday as against previous day's closing of 62.93 per dollar. NS Venkatesh of IDBI Bank feels today currency markets will take cues from equity markets moves. "Better-than-expected US jobs data is positive for the dollar and could put a mild weakening bias to rupee," he adds. According to Venkatesh, the range for the day is seen between 62.5-62.95/USD. The yen falls to a fresh four-year low against the euro early in Asian trade, left exposed after promising data in both Germany and the United States underpinned the single currency and the US dollar.
Expect 10-year yields to soften to 8.5% levels: Rohini Malkani, CitigroupRohini Malkani, Citigroup said, "We expect 10-year yields to soften to 8.5 percent levels, the rupee to trade in the 60-63/USD range and lower volatility in bonds." "Key to watch in the near-term are the recommendations of the Urjit Patel Committee on monetary policy framework due December-end," she added.
Rupee Outlook by NS Venkatesh, IDBI BankNS Venkatesh, IDBI Bank said, "Today currency markets will take cues from equity markets moves. Better than expected US jobs data is positive for the dollar and could put a mild weakening bias to rupee. The range for the day is seen between 62.5-62.95/USD."
Bond Outlook by Mohan Shenoi, Kotak Mahindra BankMohan Shenoi, Kotak Mahindra Bank said, "The new-10 year is being issued in the auction tomorrow which is likely to be absorbed at a yield of 8.70-8.75 percent. Concerns on US tapering and the spike in US 10-year yield to 2.80 percent levels will keep bond markets subdued. The range for the 10-year yield is seen between 9.05-9.15 percent." Rupee Outook by Himanshu Arora, Religare Himanshu Arora, Religare said, "Dollar-rupee pair is expected to trade higher in today's session amid weakness in equities and fresh month-end dollar demand from oil companies. Further expectations of tapering by Fed may also keep rupee under pressure. The range for the day is seen between 62.38-62.88/USD."
Bond yields to remain well supported given the issuance of new 10-year yield: Ramanathan K, ING Investment MgmtRamanathan K, ING Investment Mgmt said, "Bond yields to remain well supported given the issuance of new 10-year yield and Bernanke's assurance that US interest rates will remain low for a long time. The range for the old 10-year yield is seen between 8.95-9.05 percent. The new 10-year benchmark is expected to trade in the range of 8.60-8.70 percent."
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