"Today, USD/INR pair is expected to quote in the range of 71.70 and 72.20," said Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Securities.
On the global front, Asian shares stumbled on Wednesday as the Sino-US trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply left oil prices nursing their biggest one-day loss in seven weeks. In commodities, Brent crude futures eased another 5 cents to $60.86 a barrel, after sliding 2.6 per cent overnight, while US crude recouped a slight 8 cents to $55.29, according to a Reuters report.
In the currency market, the euro held at $1.1070 and faced chart resistance around $1.1090. The US dollar was steadier on a basket of currencies at 97.901, the report added.