USD/INR pares intraday gains around six-week high, stays depressed of late.
US Dollar remains depressed on softer US PMIs, ignore hawkish Fedspeak.
Market players expect continuous grind between 82.70 and 83.00.
RBI Minutes, US Core PCE Price Index in focus.
USD/INR remains pressured around 82.70, keeping the previous day’s pullback from a one-month high during early Monday. In doing so, the USD/INR appears mostly directionless, despite printing mild losses, as traders seem cautious ahead of Wednesday’s monetary policy meeting Minutes of the Reserve Bank of India (RBI).
That said, the US Dollar weakness appears the key catalyst behind the Indian Rupee (INR) pair’s latest losses, as it snaps a two-day uptrend amid a sluggish start to the week. That said, the US Dollar Index (DXY) prints the first daily loss in three, down 0.20% intraday near 104.55, amid cautious…