INR forecast: INR likely to opens stronger at 72.71 as against yesterdays close of 72.98 and may trade the day between 72.40-72.90 under mixed manner.Yesterday weakness in INR was caused by jump in crude prices as there were news of rift between Russia and Israel over Syria and Saudi said that they OK with crude above 80.
For sometime, INR could be in range. Overall, tend continued to before weakness and there are no signs of reversal.
Global equity markets shrugged off tariffs by US and China and rallied. US ten year crossed for second day at 3.05. China in a tit for tat measure against U.S, imposed new tariff on wide range of American import products in an attempt to retaliates against Trump. The new tariff with come into effect from 24th of this month.