Us dollar rupee

By Sethuraman N R BENGALURU, June 14 (Reuters) - The Indian rupee hit a fresh high on Wednesday, but traders were holding off positional moves ahead of the U.S. Federal Reserve rate decision due later in the day. The rupee INR= was trading at 82.2875 to the dollar by 10:57 a.m. IST, after closing at 82.3675 in the previous session. The domestic currency hit its highest since June 2 at 82.2725. The U.S. inflation data on Tuesday reaffirmed views that the Federal Reserve will likely keep interest rates unchanged in June. There is some weakness in the dollar index, but there would not be much action before the Fed's decision even though the USD/INR pair is more "tilted towards left," a forex trader with a private bank said. Post the CPI data, the odds of a Fed rate hike in June have fallen to 8% from 25% on Tuesday. The dollar index =USD hovered close to an over three-week low hit on Tuesday, while the two-year U.S. yield dropped slightly in Asia after rising to its highest since March 10. Most of the Asian currencies were weak, while the risk sentiment was buoyed by expectations of a Fed rate pause. Meanwhile, the USD/INR broke a technical support at 82.30. The pair is eyeing another minor support at 82.25 even though indicators pointed towards weaker momentum, said Dilip Parmar, research analyst at HDFC Securities. The rupee forward premiums declined with the 1-year implied yield down to 1.72%. Reuters, the news and media division of Thomson Reuters, is the world’s largest ...

Mumbai, Jun 13 (PTI) The rupee gained 18 paise to settle at 82.25 against the US dollar on Tuesday, as a weak greenback overseas and strong macroeconomic data supported investor sentiments. At the interbank foreign exchange market, the local unit opened at 82.42 against the US dollar and settled at 82.25, up 18 paise over its previous close. During the day, the domestic unit witnessed an intra-day high of 82.25 and a low of 82.47. On Monday, the rupee closed at 82.43 against the US currency. "The rupee traded strongly above 82.35 as CPI headline inflation cooled in India, along with buying witnessed in capital markets supported the rupee altogether. The dollar index traded weak helping the rupee gain strength. All eyes are now focused on the US CPI and interest rate decision up ahead," Jateen Trivedi, VP Research Analyst at LKP Securities, said. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.37 per cent to 103.27. Meanwhile, global oil benchmark Brent crude futures advanced 1.53 per cent to USD 73 per barrel. "The dollar fell against most of the Asian currencies before the release of US inflation numbers later in the evening. The fall in crude oil prices, risk-on sentiments and upbeat economic data supported the rupee in today’s trade," said Dilip Parmar, Research Analyst, at HDFC Securities. Ahead of three major central banks' policy decisions, the risk sentiment remains on its front foot, with equities trading higher an...