USD/INR rallies on short cover, risk off

USD/INR rallies on short cover, risk off

• USD/INR to move above 62.00 on risk aversion, short squeeze
  
  
• Short covering interest ahead of RBI tomorrow
  
  
• Names cited good buyers in the NDFs overnight
  
  
• NDFs traded 61.22-61.45 range overnight, closed 61.35-40 in NY
  
  
• Feb manufacturing PMI data eyed, forecast 53.5 vs 54.5 previous