The Indian rupee is expected to weaken on Monday, adding to last week's losses, tracking a rally on the dollar index and higher U.S. yields on worries surrounding U.S. inflation.
Non-deliverable forwards indicate the rupee will open at around 82.20-82.22 to the U.S. dollar, compared with 82.1625 in the previous session.
A survey from the University of Michigan on Friday showed consumers' long-term inflation expectations jumping this month to their highest reading since 2011, hurting sentiment that the U.S. Federal Reserve is done with its tightening cycle. Fed Governor Michelle Bowman last Friday said the central bank will probably need to raise rates further if inflation stays high, adding that key data so far this month has not convinced her that price pressures are receding.
"Their assessments of whether recent labour market and inflation data support pausing in June or not will be scrutinised," ANZ said in a note.
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