Rupee subdued tracking Asian peers, bias seen tilted lower
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The Indian rupee experienced a sharp intra-day fall on Monday due to dollar demand from importers and a government debt outflow. The rupee was little changed on Tuesday, with traders expecting a slight depreciation heading into the U.S. Federal Reserve's policy decision. The rupee was at 83.49 against the U.S. dollar as of 10:15 a.m. IST. The dollar index was up 0.1% at 105.8, while most Asian currencies were rangebound. The Fed will deliver its policy decision on Wednesday and investors will pay attention to remarks from Chair Jerome Powell for cues on policymakers' thinking about the future path of policy rates. Stronger-than-expected inflation and economic activity data have prompted a sharp pullback in the chances of deep rate cuts by the U.S. central bank. A "hawkish outlook" from the Fed may push the rupee into a weaker range between 83.40 and 83.70.
#Rupee #AsianCurrencies #UsFederalReserve #PolicyRates
https://m.economictimes.com/markets/forex/rupee-subdued-tracking-asian-peers-bias-seen-tilted-lower/articleshow/109713727.cms
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