Indian Rupee Price News and Forecast: USD/INR extends slide to new three-week lows

USD/INR extends slide to new three-week lows despite US data

The USD/INR dropped further to 71.22 hitting the lowest intraday level since November 11. The pair remains near the lows, on its way to the third daily decline in a row.

The Indian Rupee continues to move on a strong note against the US dollar and also across the board. Over the last five trading days is among the top performers. USD/INR kept a bearish bias even after better-than-expected economic data from the United States.

USD/INR drops to three-week lows near 71.30

The cross fails to benefit from broad-based US dollar strength led by rising expectations of a likely US-China trade deal, especially after US President Trump’s pro-trade deal comments. The US dollar index flirts with two-week highs of 98.40, up +0.13% so far.

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.

View all posts by FX Street