The Indian rupee on Wednesday retreated lower due to weakness in other Asian currencies. The weakness came in against backdrop of a report which states that tariffs on Chinese goods will likely continue even after the US election. At 9:45 am, the currency traded at 70.95 per US dollar versus its previous close of 70.88.
Oil prices also went down as the US-China phase one deal is unlikely to boost demand for the commodity.
The yield on the 10-year government bond was at 6.645% compared with its previous close of 6.667%. Bond yield and prices moves in opposite directions.
In trade today, the benchmark Sensex and Nifty both traded lower by as much as 0.5%.