USD/INR Price News: Indian rupee floats around 82.50, Fed, RBI announcements eyed – by anilpanchal7 USDINR RiskAppetite Oil CentralBanks Currencies
That said, the
prints a three-day uptrend around 110.80, up 0.10% intraday by the press time, as traders expect the US Federal Reserve to announce a 75 basis point of a rate hike during Wednesday’s Federal Open Market Committee .committee meeting on Thursday was most likely to discuss the central bank's response to the government after failing to meet its inflation target for three quarters in a row.
Further, news of Macau’s lockdown of a casino resort and fears emanating from Russia also underpin the USD/INR upside, due to the US dollar’s safe-haven status. “Russia, which invaded Ukraine on Feb. 24, halted its role in the Black Sea deal on Saturday for an ‘indefinite term’ because it could say it could not ‘guarantee the safety of civilian ships’ traveling under the pact after an attack on its Black Sea fleet,” reported Reuters., down 1.0% on a day around $87.
Moving on, the market’s risk catalysts and second-tier PMI data from the US may entertain the USD/INR pair traders but the bulls are likely to keep the reins.
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