) pair justifies the US Dollar’s corrective bounce amid the Indian holiday and a sluggish trading session of the day. prints mild gains around 102.20 after falling the most since March 22 the previous day. With this, the greenback’s gauge versus the six major currencies rebound from the one-week low amid inactive markets.
On the same line could be the firmer Oil price, which in turn weighs on the INR due to India’s heavy reliance on energy imports and higher Current Account Deficit . That said,crude oil rose nearly 7.0% to $81.00 the previous day, up 0.85% intraday to $80.85 by the press time. While portraying the mood, the S&P 500 Futures struggle for clear directions after Wall Street closed mixed whereas the US 10-year and two-year Treasury bond yields remain inactive around 3.42% and 3.98%.