The Indian rupee is expected largely unchanged to the U.S. dollar on Wednesday following range-bound Asian peers and more hawkish comments from Federal Reserve officials.
Non-deliverable forwards indicate the rupee will open at around 82.02-82.08 to the U.S. dollar, compared with 82.04 in the previous session.
Asian currencies and the dollar index were mostly flat, while near-maturity U.S. yields inched up. Investors digested comments from Fed officials that reinforced expectations that the central bank will hike rates at its next meeting.ahead of it in its effort to lower inflation, Atlanta Fed President Raphael Bostic said on Tuesday.on the back of recent data showing inflation remaining persistent."Elevated U.S.
Based only on the price action in the last two days, the downside on the pair "certainly looks capped", but long positions on the rupee are unlikely "to cave in" until 82.20-82.30 is taken out, a spot trader said. The higher U.S. yields did not benefit the dollar in Tuesday's session. The dollar index overnight fell back below 102.
Risk is holding up well so far to the prospect of another Fed hike. U.S. equities were little changed.** One-month non-deliverable rupee forward at 82.18; onshore one-month forward premium at 12 paise** USD/INR April forward premium at 2.5 paise** Ten-year U.S. note yield at 3.5850%** As per NSDL data, foreign investors bought a net $51.5mln worth of Indian shares on Apr.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
INDIA RUPEE Rupee to hold near 82/$ on higher U.S. yields, dollar offersThe Indian rupee is expected to open little changed to the U.S. currency on Tuesday amid rising U.S. yields and likely dollar offers from speculators and hedgers, traders said.
Les mer »
USD/INR Price Analysis: Indian Rupee bears seek acceptance from 200-SMA hurdle around 82.00USD/INR Price Analysis: Indian Rupee bears seek acceptance from 200-SMA hurdle around 82.00 USDINR Technical Analysis TrendFollowing ChartPatterns SupportResistance
Les mer »
EXCLUSIVE: Bottega Veneta Releases Film on Quiet Power of CraftThe Italian luxury brand is sharing insight into the making of its signature Intrecciato weave and into its artisanal know-how through a film directed by Massimiliano Bomba titled “Craft in Motion.…
Les mer »
'Quiet luxury': No flash, no logos, but big-time styleFor the rich and those who aspire, logo-free fashion with outsize price tags is having a moment — at least among people who can spend in the face of higher inflation and a volatile economy.
Les mer »
Forex Today: Dollar slides amid quiet market conditionsThe Melbourne Institute will release the Westpac–Melbourne Institute Leading Index of Economic Activity and Japan reports Industrial Production. Those
Les mer »
U.S. to Penalize Companies for Staying Quiet About Export-Control IssuesThe U.S. Commerce Department is cracking down on companies that discover potential export-control violations but choose not to disclose them to the government
Les mer »