USD/INR attempts to continue the winning streak that began on Tuesday, trading higher around 83.10 during the Asian session on Monday. The Indian Rupe
India's soft inflation in August is putting pressure on the Indian Rupee .US Dollar experienced losses ahead of the Fed’s interest rate decisions on Wednesday.attempts to continue the winning streak that began on Tuesday, trading higher around 83.10 during the Asian session on Monday. The Indian Rupee is experiencing downward pressure due to the trade balance figure.
Additionally, the easing inflation in August is also putting pressure on the INR, which came in at 6.83%, compared to 7.44% in the previous month. Additionally, the Core inflation rate stood at 4.9%, aligning with market expectations. On the other hand, the US Dollar is facing downward pressure, likely a result of the downbeat consumer sentiment data from the United States released on Friday. The preliminary US Michigan Consumer Sentiment Index registered a reading of 67.7, reflecting a decrease from the previous figure of 69.5. This reading also came in below the anticipated figure of 69.1 for the month of September.
The US Treasury yields have fully reversed their intraday gains, exerting downward pressure on the Greenback. The yield on the US 10-year bond has declined to 4.32%, down by 0.25% at the time of writing.
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