USD/INR flattens ahead of US markets opening, FOMC Minutes

💡 DMK Insight

The INR’s flat trading around 90.80 against the USD signals potential consolidation, but traders should watch for volatility triggers. With the Rupee hovering near Monday’s low, it suggests a lack of momentum in either direction. This could be a setup for a breakout or breakdown, especially if upcoming economic data or geopolitical events create a catalyst. Keep an eye on the USD’s strength, as any significant movement could push the INR either way. If the USD strengthens, we might see the INR test lower levels, while a weaker USD could provide some relief. Traders should also consider correlated assets like Indian equities or commodities, as shifts in the INR can impact import costs and overall market sentiment. Watch for key economic indicators from the U.S. and India that could influence this pair, particularly any shifts in interest rates or inflation data in the coming weeks.