"Today, USD/INR pair is expected to quote in the range of 69.40 and 70.05," says Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial Services (MOFSL).
On the global front, Asian stocks were under pressure in the early trade on Wednesday on US-China trade war fears. MSCI’s broadest index of Asia-Pacific shares outside Japan initially edged up following gains on Wall Street but was last down 0.15 per cent. Australian stocks slipped 0.25 per cent, South Korea’s KOSPI fell 0.45 per cent and Japan’s Nikkei edged up 0.05 per cent, Reuters reported.
In currency market, the US dollar traded at 110.580 yen after popping up to a two-week high of 110.675. In commodities, US West Texas Intermediate (WTI) crude futures were down 0.59 per cent at $62.76 per barrel.