USD/INR Strengthens As Dollar Demand Grows
The Indian Rupee (INR) faced pressure as the US Dollar (USD) strengthened on Friday, driven by heightened month-end demand from importers. Following US President Donald Trump’s announcement of a 25% tariff on automotive imports, set to take effect soon, the USD has gained traction. Investors are keeping a keen eye on the upcoming US PCE inflation data, which could significantly influence market dynamics. The current market environment suggests that the INR might encounter further challenges unless economic conditions shift markedly. Traders are advised to stay prudent and prepared for any sudden changes that may arise from the data release.