USD/INR Price News: Indian rupee rallies to fresh four-month highs near 73.80 USDINR Currencies Technical Analysis DollarIndex
Renewed US dollar weakness amid pullback in yields supports the downside.USD/INR
The latest leg down in the spot could be associated with the renewed weakness in the US dollar across the board. The greenback tracks the pullback in the Treasury yields, as investors turn to repositioning ahead ofAdditionally, a minor slowdown in the new coronavirus infections in India supports the local currency, exerting further bearish pressure on the pair.
The latest decline found additional legs on Monday’s closing below the rising trendline support at 74.13.
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