- USD/INR seesaws near one-month low, bears take a breather after four-day downtrend.
- Market sentiment dwindles on mixed updates from China, hawkish Fed talks.
- Easy prices of oil, technical breakdown keeps Indian Rupee buyers hopeful.
- Fed Chair Powell’s speech, US inflation data will be crucial for clear directions.
USD/INR stays defensive around 82.15-20 as it probes bears for the first time in five days during early Tuesday. In doing so, the Indian Rupee (INR) pair takes clues from the US Dollar’s rebound amid the mixed sentiment and anxiety ahead of the key catalysts. However, softer prices of oil and a downside break of 82.40 keeps the pair sellers hopeful.
US Dollar Index (DXY) makes rounds to 103.15-20 as sellers pause after a two-day downtrend around the lowest level since June 2022. That said, the greenback’s gauge versus the six major currencies takes clues from a rebound in the US Treasury yields, as well as the hawkish statements from the Federal Reserve (Fed) officials.
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