INR forecast: INR opens flat at 72.54 as against previous close of 72.51 and may trade the day between 72.25-72.70 under two way price action. For some time, the range could be 71.50 to 73.20. The global narrative is now well known and now the next major triggers would be US midterm elections.
Trump announces fresh tariffs of 10% on Chinese imports and said that same would gradually increase to 25% by Dec 2018. By that time, US companies could work on supply chain.
US ten year yield spiked to 3%.
Moving ahead, yesterday best performing currency was GBP trade near to 96 against INR capitalizing on USD weakness. IMF on the other hand have showen serious concern over Brexit deal. According to the chair of IMF, if Brexit happens without a clear settlement, UK economy is likey to get majorly affected.