USD/INR Price News: Rupee keeps pullback from multi-day top around 74.77 during early Thursday. The Indian rupee (INR) pair jumped to the highest levels since late April the previous day before easing from 75.05 as risk-on mood weighed on the US dollar.
The Indian rupee depreciated 22 paise to 74.36 against the US dollar in opening trade on Thursday, amid a muted trend in domestic equities. At the interbank foreign exchange, the rupee opened on a weak note at 74.28.
The US dollar is staging a broad-based rally ahead of the Fed’s latest FOMC meeting this week. In the opinion of brilliant economists at MUFG Bank, the US Dollar Index could reach new highs in case the DOTs surprise to the upside.
The greenback, in terms of the US Dollar Index, creeps higher and looks to put further distance from post-Payrolls lows in the sub-92.00 zone (Friday). The index (DXY) advances for the second session in a row albeit at a glacial pace ahead of the opening bell in Euroland.
USD/INR Price: Rupee takes offers around 73.22, down 0.27% intraday during a three-day south-run ahead of Tuesday’s European session. In doing so, the Indian rupee (INR) pair remains pressured towards the lowest levels since mid-June, flashed on Monday, by the press time.
GBP/USD Price Analysis: Pound is on a steady decline towards 1.3750, reversing Friday’s rally to weekly tops of 1.3781. The holiday-thinned market conditions combined with a tepid bounce in the US dollar is collaborating with the downside in the cable. Renewed concerns over the post-Brexit visa.
USD/INR Price News: Rupee licks its wounds around 73.52, up 0.05% intraday, after marking the heaviest slump since August 2020. That said, the Indian rupee (INR) pair refreshed multi-day low during Monday’s Asian session before bouncing off 73.42.
Fear about slowing global growth and rising covid cases is weighing on sentiment and supporting the safe-haven dollar. The Fed’s Meeting Minutes are eyed after the RBNZ surprised by leaving rates unchanged.
USD/INR Price News: Rupee picks up bids to 74.12, snapping four-day downtrend, following the RBI announcement on early Friday. In doing so, the rupee (INR) pair considers the mixed moves by the Indian central bank as favoring the buyers while also portraying the pre-NFP trading lull.
USD/INR Price News: Rupee bears take a breather during a three-day fall, around 74.39, amid the initial Indian session on Thursday. The cross-currency pair dropped to the 12-day low the previous day after breaking convergence of 21-DMA and an ascending support line, now resistance, from June 22.