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USD/INR extends the rally on hawkish Fed projection, eyes on Indian WPI Inflation data

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Indian Rupee (INR) weakens on Friday on the extended gains of US Dollar (USD).

India n Rupee trades in negative territory on Friday amid the stronger US Dollar. The hawkish Fed projection suggested only one rate cut is likely in 2024, weighing the INR. Investors await India ’s May WPI Inflation data and preliminary US Michigan Consumer Sentiment report, which are due on Friday. India n Rupee weakens on Friday on the extended gains of US Dollar .

35 zone, portraying the confluence of the 100-day EMA and descending trend channel upper boundary. A break below this level could see a drop to the 83.00 psychological level, followed by 82.78, a low of January 15. US Dollar price today The table below shows the percentage change of US Dollar against listed major currencies today. US Dollar was the strongest against the Japanese Yen. USD EUR GBP CAD AUD JPY NZD CHF USD -0.04% -0.03% -0.04% -0.05% 0.09% 0.07% -0.03% EUR 0.03% 0.00% -0.02% -0.

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