USD/INR Price News: Rebounds from 81.70 despite weak USD Index and lower oil prices – by Sagar_Dua24 USDINR Fed Oil YieldCurve Employment
USD/INR is confidently defending its immediate support of 81.70 despite a weak USD Index and a nosedive move in the oil price.
Meanwhile, the USD Index has corrected sharply to near 101.70 after commentary from Heather Boushey, member of the Council of US Economic Advisers that interest rate hikes from the Fed were having a negative impact on the banking sector, as reported by Reuters. This could force Fed chairto remain neutral on interest rate guidance as a 25 basis points rate hike is widely anticipated.
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