USD/INR opens down on weak dlr, likely FII inflows into local stocks

The Indian rupee little changed at 68.8875 pair now at 68.83 against 68.92 previous close.
Pair to tip in 68.65-69.00 range today.
Dollar/rupee opened lower Tuesday tracking a weak greenback on improving risk-sentiments amid likely overseas fund inflows into local stocks. Local stocks opened higher Tuesday as overseas investors continue to buy local stocks and as higher crude oil prices helped boost appetite for risky assets. Weak dollar and FII inflows into local equities is weighing on spot pair. the greenback weakened against it major pairs after US 10-year Treasury yields edged higher as fear of a recession hitting the US economy receded.

The dollar rebounded modestly against the yen on Tuesday as Treasury yields pulled back from 15-month lows as investors reassessed the risks of a sharper downturn in the global economy. The dollar edged up 0.1 percent to 110.065 yen JPY= and put some distance from a six-week low of 109.70 plumbed the previous day. Sterling was effectively flat at $1.3197
GBP=D3 after spending the previous day confined to a narrow range when British MPs wrested control of the parliamentary agenda from the government for a day in a highly unusual bid to find a way through the Brexit impasse

Oil prices edged up on Tuesday, lifted by supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela, but signs of a sharp economic slowdown and potentially even a recession kept markets from rising further.
Gold prices were steady on Tuesday and hovered near one-month high hit in the previous session, as demand for safe-haven assets improved after treasury yields and equities fell on possible U.S. recession and global growth concerns.

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