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Indian rupee is confined in range of 71.60-70.80. Twice it tested support of 70.60-70.65 and bounced back till 71. Dollar index was under pressure after rally in GBP and EUR when Brexit deal was finalized between EU and UK. Although the deadline may get extended but relief rally was seen in EUR and GBP which pushed DXY to 9 week low. Indian rupee meanwhile continues to trade in narrow range with no clear direction.
Productive US-China trade talks, strong corporate earnings, and a UK-EU Brexit deal have brought back investor risk appetite. So far, more than 76% of the companies
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