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Weakness across Asian FX before Fed decision to put mild pressure on Indian rupee
MUMBAI: The Indian rupee may open marginally weaker on Wednesday, tracking losses across most Asian peers, with investors awaiting the Federal Reserve’s policy decision after local market hours for clues on the outlook for further rate hikes. The Indian rupee is expected to open in the 95.12-95.16 range, per traders, having settled 0.1% higher at 95.1150 to the dollar on Tuesday. The rupee managed to recover in Tuesday’s session after slipping to 95.24 intraday amid dollar sales by state-run banks which two traders said may be on behalf of the Reserve Bank of India. Traders see 95.30 as a key ...
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