USD/INR Price News: Indian rupee recovery eyes 77.00 ahead of US inflation By anilpanchal7 USDINR Inflation RiskAppetite Fed YieldCurve
Other than the consolidation amid pre-CPI anxiety, headlines from Shanghai local authorities that mentioned no virus spread in eight districts and firmer inflation numbers from China also favored the latest improvement in the market’s mood. Additionally, lower yields probe the US dollar buyers ahead of the key data and hence add strength to the latest weakness in the USD/INR prices.
Mixed comments from the Federal Reserve policymakers seemed to have weighed on the US Treasury yields. Earlier in Asia,mentioned that the US economy is strong and demand is high while also expecting the neutral rate at 2.0-2.5%. Even so, Cleveland Fed President and FOMC member Loretta Mester kept the bears hopeful as she said, on Tuesday, that the Fed doesn't rule out a 75 basis points rate hike “forever”.
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