On Wednesday we are expecting USDINR commence with weaker note on INDO - CHINA boarder dispute as well as Dollar held firm against many of its rivals.
Yesterday domestic currency (rupee) saw sudden volatility in mid day after news flash as Indian troops had been killed in clashes with Chinese troops against greenback. USDINR opened at 75.87 levels and hit intraday high at 76.3150 levels before finished at 76.20 levels.
India’s army said on Tuesday 20 of its soldiers had been killed in clashes with Chinese troops at a disputed border site, in a major escalation of a weeks-long standoff between the two Asian giants in the western Himalayas.
INTRADAY RANGE - 75.75 ( 75.95 - 76.35 ) 76.55
GLOBAL HIGHLIGHTS
The BBC reported that a "cheap and widely available drug called dexamethasone" will be the life-saving drug that can help save seriously ill corona virus positive patients. According to the report, experts in the UK have said that a low-dose steroid treatment is a major breakthrough in finding a cure for the virus. The drug apparently cut the risk of death in patients on ventilators.
The dollar held firm against many of its rivals after U.S. retail sales jumped far more than expected in May, while risk-sensitive currencies were hobbled by concerns about the corona virus and diplomatic tensions in Asia.
The Euro traded at $1.12635, having lost 0.5% on Tuesday and in consolidation after hitting a three-month high of $1.14225 a week ago.
Facebook on Tuesday removed almost 900 accounts associated with the far-right Proud Boys and American Guard, including those belonging to Proud Boys supporters who marched into a protest zone in Seattle Monday and confronted anti-racist demonstrators.
In Asia, there is a bit of risk-off mood following a renewed outbreak of corona virus in Beijing and also some geopolitical tensions in the region.
German, French, Dutch and other core yields also rose. Riskier Italian yields fell to their lowest level since the end of March, and the iTraxx European crossover index, which reflects the cost of insuring against junk-rated corporate bond defaults, fell to its lowest level in six days.
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