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Indian rupee slips as dollar gets Fed hike expectations tailwind
MUMBAI: The Indian rupee ended modestly weaker on Wednesday, tracking declines in Asian peers as expectations of further US Federal Reserve rate hikes lifted the dollar. The Indian rupee fell 0.1% to 95.74 per dollar from a close of 95.59 in the previous session. Asian currencies fell 0.1% to 0.3% as investors watched oil prices and Fed rate expectations. The dollar index has risen more than 1% since the Fed raised rates last week as bets on further tightening grew. Interest rate futures markets have baked in about 75 basis points worth of hikes over the next 12 months. “The US Federal Reserve...
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