The Indian rupee is expected to broadly struggle on Thursday amid an uptick in U.S. Treasury yields and losses on Asian currencies and equities before the U.S. GDP data.
Non-deliverable forwards indicate the rupee will open marginally weaker to nearly flat to the U.S. dollar from 83.3225 in the previous session.
The rupee, having slipped to an all-time low of 83.5750 on Friday, has broadly done well. The cooling off of the Iran-Israel crisis and inflows have helped the local currency recover.
“Think 83.25-83.55 is now the range (on USD/INR),” a FX trader at a bank said. “You have two important U.S. data points lined up and then the Fed meeting next week. Heading into that, for me its difficult to pen…
