USD/INR likely to extend gains for a fourth straight session tracking risk aversion on tepid US jobs data, euro weakness; pair last Friday local trade at 55.42-55.43.

USD/INR 1-month NDF trading at 55.71 versus 56.24-56.29 NY close.

Euro plumbed a two-year low versus the greenback early on Monday, while high-beta currencies like the Australian dollar nursed losses with markets still smarting after tepid US jobs growth dealt a blow to risk sentiment late last week.

Asian stocks in red with MSCI’s Asia ex-Japan index down 0.9%; Nifty futures in Singapore down 0.4%.

Traders will also watch for RBI intervention after rumoured RBI dollar selling around 55.62 levels on Friday.