USD/INR continues its upward momentum for the fourth consecutive day, trading around 87.10 during Wednesday’s Asian session.
USD/INR holds ground amid rising trade tensions between the US and China. India HSBC Composite Purchasing Managers’ Index fell to a 14-month low of 57.7, from the previous 59.2 reading. Traders await Friday’s US Nonfarm Payrolls, which is expected a slight slowdown in job creation for January. The risk-sensitive India n Rupee remains under pressure due to increased risk aversion following rising trade tensions between the US and China.
US President Donald Trump stated on Monday that he expects to speak with China soon but warned, “If we can't reach a deal with China, the tariffs will be very, very substantial.” However, no further developments have been reported. Meanwhile, investors anticipate a 25-basis-point rate cut in the Reserve Bank of India's upcoming monetary policy meeting on Friday, amid slowing economic growth. Market optimism has been further buoyed by expectations following the FY2026 Budget.
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