USDINR Rally Sparks Optimism as Trump Pushes for US India Trade Agreement
The Indian Rupee (INR) experiences selling pressure against the US Dollar (USD) in early European trading hours on Wednesday. The USDINR drops to around 85.82 as the US Dollar seeks to strengthen following the release of surprisingly positive US JOLTS Job Openings data for May. Market analysts suggest that the impending trade agreement between the US and India adds an element of optimism in the currency market. As the two nations work towards a deal before the tariff deadline, investors are keenly monitoring the developments. This potential trade pact is anticipated to bolster economic ties, providing both currencies with support in these uncertain times, especially given the global economic challenges.