- Indian Rupee trades sideways on Tuesday amid a cautious mood.
- Higher US bond yields and lower bets on Fed rate cuts might drag the INR lower against the US Dollar.
- The respective Indian and US Consumer Price Index (CPI) inflation data are due on Wednesday ahead of the Fed rate decision.
Indian Rupee (INR) remains flat on Tuesday despite the firmer US Dollar (USD). The rising US bond yields and lower bets on rate cuts from the Federal Reserve (Fed) after stronger-than-expected US employment data lift the Greenback for the time being. Nonetheless, the lower crude oil prices and easing political uncertainties surrounding India’s election might support the INR and cap the upside for the pair. Additionally, the Reserve Bank of India (RBI) is likely to intervene in the market to prevent the Indian Rupee from depreciating.
Market players will keep an eye on India’s Consumer Price Index (CPI), which is…
