USD/INR Price News: Indian Rupee dribbles near 81.80 amid mixed feelings for Fed Chair Powell – by anilpanchal7 USDINR RiskAppetite Fed China Currencies
USD/INR fades bounce off five-week low but struggles to gain momentum ahead of top-tier event.
The Indian Rupee pair’s latest inaction could be linked to the market’s dicey performance ahead of Federal Reserve Chairman Jerome Powell’s semi-annual testimony. Also acting as a trading hurdle could be the mixed headlines surrounding China, as well as mildly bid Oil prices. On the same line could be fears of fresh US-China tussles, due to the likely meeting between the officials from the US and Taiwan, as well as amid Beijing’s criticism of Washington’s cold war strategies. weakness underpins the bearish bias surrounding the USD/INR pair. That said, the greenback’s gauge versus the six major currencies drop for the third consecutive day to 104.18 at the latest.
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