USD/INR logs in four-day losing streak amid a ray of optimism from India
USD/INR is weakening for the fourth day in a row as recent government measures from India, coupled with fresh trade/investment news, keep the Asian currency on the front foot. With this, the price drops to 71.70 while heading into the European session on Friday.
In contrast to the trade differences between the United States (US) and China, the US-India trade relations are likely to improve as both parties have recently agreed on equitable market access for a trade deal in recent days. Additionally, increased investments from global bond champions like Advent international, coupled with the hope for further government measures, as it did in recent days, favor the INR. Read more…
USD/INR Technical Analysis
USD/INR: Bears continue to guard the 71.90 barrier ahead of US data
The Indian rupee rebounded sharply from daily lows of 71.87 against its American counterpart in the European session, as the USD/INR cross now flirts with daily lows near 71.73 regions.
The renewed buying interest seen in the rupee can be mainly attributed to the new foreign trade policy announced by the Indian Foreign Minister Goyal, who said that the new policy will be replaced before end-March 2020. Read more…
USD/INR Levels to watch
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