The next test is Wednesday's US inflation report. The dollar index, which measures the greenback against a basket of currencies, rose 0.2 per cent to 106.16. US Treasury yields rose as traders waited to see whether stubbornly high price pressures could derail expectations for a Fed rate cut next week.
Malhotra, 56, succeeds Shaktikanta Das, who will demit office on Tuesday. Apart from that, foreign direct equity investment witnessed a 45 per cent jump at $29.8 billion in the first six months of the current financial year, according to data from the Department for Promotion of Industry and Internal Trade (DPIIT).
That apart, Beijing's promise of more stimulus measures and the sudden collapse of the Syrian government boosted oil and gold prices more than 1 per cent. US inflation data this week could cement a December interest rate cut by the Federal Reserve at its meeting next week.
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