
- The Indian Rupee weakens in Friday’s early European session.
- Ongoing foreign outflows, month-end USD demand and a hawkish Fed weigh on the INR.
- Traders brace for India’s Fiscal Deficit and US December PCE data, which will be published later on Friday.
The Indian Rupee (INR) remains weak on Friday, pressured by the persistent portfolio outflows and month-end US Dollar (USD) demand. Furthermore, a hawkish hold from the U.S. Federal Reserve (Fed) is likely to boost the Greenback and exert some selling pressure on the local currency. Fed Chair Jerome Powell said there would be no rush to cut
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