INR Vs USD: Rupee was at 71.70 to the dollar, compared with last closing of 72.01.MUMBAI: Bonds rose on Thursday after inflation eased sharply in November, bolstering expectations of a rate cut sooner than expected, while the rupee also strengthened as global trade tensions eased.The 10-year benchmark bond yield fell to 7.38 per cent in early trade from 7.41 per cent in the previous session, while the rupee was at 71.70 to the dollar, compared with 72.01 on Wednesday.Inflation in November fell to a 17-month low of 2.33 per cent, driven by falling food prices, and below the central bank's medium term target of 4 per cent.