USD/INR is challenging the 2020 highs just below the 73.00 figure. A break above the above-mentioned level would lead to extra gains towards the 74.00 and 75.00 figures. Support is seen near the 72.65 and 72.40 price levels. Asian stocks reversed early losses after Bank of Japan promised to support markets. It comes after official data showed that Chinese factory activity fell in February at the fastest rate on record. On Friday the US Federal Reserve made a similar pledge to intervene to stop further big falls on the world's financial markets. Investors placed their hopes on a coordinated global monetary policy response to the damaging economic impact of the coronavirus epidemic. SGX Nifty traded 1.10% higher at 11,290 during early Asian trades Monday. The dollar index, which tracks the greenback against a basket of six major currencies, traded at 97.92 during early Asian trade Monday compared with 98.28 at the previous close of Indian market on Friday. Brent crude oil future for April delivery traded 3.56% higher at $51.58 a barrel during early Asian trades Monday.