INR opens weaker at 6883 as against yest close of 6868 Range for the day is 6867 to 6898 and small chance of 6905.
Locally, NDA candidate won Deputy Speaker election for Rajya Sabha and NDA once again showed that it is ahead of rivals in political manoeuvring.
Overnight, USD saw rally against EUR and other currencies like Turkish Lira and Russian Ruble. Market went into safe mode as US imposed sanctions on Russia over their alleged attack on a spy in UK.
May be current aggressive posturing by US may cool off after mid term elections in Nov-18.
These days’ political and geopolitical concerns are driving markets, rather than actual fundamentals!
Today Asian equities are mildly in red.
Suggest long term export hedging around 69.