Forex Market News

Indian Rupee Appreciated By 0.2 Percent

Indian Rupee appreciated by 0.2 percent yesterday as weakness on the DX during the day after White House national security adviser Michael Flynn resigned over allegations of improper contact with Russian officials, supported an upside in Asian currencies.
On the data front, Indian consumer prices rose by an annual 3.17 percent last month, their slowest pace since January 2012. Due to all the above factors, USDINR spot is expected to trade sideways today as recent comments by Yellen regarding rate hike will restrict sharp[ appreciation.
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