USD/INR trades with mild losses as Fed maintains status quo

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• Indian Rupee holds mild gains on a decline in US yields, US Dollar. 
• The Federal Open Market Committee (FOMC) decided to hold the rate steady at its November meeting. 
• The US Nonfarm Payrolls (NFP) will be closely watched later this week. 

Indian Rupee posts modest gains on Thursday on lower US Treasury bond yields and the correction of the US Dollar (USD). The Federal Open Market Committee (FOMC) kept the federal funds rate unchanged at the 5.25-5.50% range at its November meeting on Wednesday, as widely expected. The Greenback edges lower as the markets anticipate that the US rate hike cycle is already over, despite Fed Chair Jerome Powell opening the door for another rate hike.