MUMBAI : The Indian rupee is likely to weaken at open against the U.S. dollar on Thursday as mounting global growth concerns prompted investors to exit risk assets.
The S&P 500 index fell the most in over a month overnight as weak U.S. retail sales data fuelled worries on the growth front. Treasury yields plunged as investors became more convinced that the Fed is nearing the end of the current rate hiking cycle. The 10-year U.S. yield declined around 16 basis points overnight to near 3.37 per cent, its lowest level since September.
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