Rupee set to find more breathing room after Trump remarks jolt dollar
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The Indian rupee is expected to strengthen following President Trump's remarks that downplayed the dollar's weakness, which has led to a decline in the dollar to multi-year lows. The rupee is projected to open between 91.48-91.52 against the dollar, recovering slightly from 91.72. Despite a 0.2% rise, traders caution that this is merely a pause in aggressive dollar buying, with the overall trend still favoring a stronger dollar. The dollar index has fallen to a four-year low amid expectations of Federal Reserve rate cuts and ongoing market volatility.
Source: Reuters The copyright of this article belongs to the original author/organization.
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