USD/INR Price News: Indian rupee bears attack 79.50 on oil’s rebounds ahead of US inflation – by anilpanchal7 USDINR RiskAppetite Inflation Recession Oil
Oil prices cheer US dollar pullback from 20-year, cautious optimism.USD/INR picks up bids to 79.54, reversing the pullback from an all-time high, as buyers cheer firmerduring Wednesday’s Asian session. The Indian rupee pair’s weakness could also be linked to the nation’s official consumer inflation data, published late Tuesday.
On the other hand, the market sentiment improves ahead of the key US Consumer Price Index for June, expected to rise to 8.8% YoY from 8.6%, which in turn underpins the rebound in oil prices. It’s worth noting that the latest recovery in risk profile could be linked to the upbeat White House statement and softer US data.
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