USD/INR Weakens as Traders Await Fed’s Powell Speech and US PMI Data
The Indian Rupee (INR) improved against the US Dollar (USD) on Monday, buoyed by dovish sentiments from the Federal Reserve. Rising fiscal concerns and a drop in crude oil prices also supported the INR. As the market anticipates Fed Chair Powell’s speech and upcoming PMI data, traders are on edge. These events could provide crucial insights into future monetary policies. As expectations shift, traders should remain alert to how these developments could sway the INR and affect overall market dynamics.