INDIA RUPEE Rupee gains on speculators bets, lack of cash dollar demand
The rupee was at 82.5750 per U.S. dollar by 10:50 a.m. IST, compared with 82.72 in the previous session.
It was possible that interbank is building new short positions on the USD/INR, with the stop-loss pegged above the 82.90-83.00 level, he said. The rupee, this week, will take cues from the response of the dollar and Treasury yields to a string of U.S. data. The markets are beginning 2023 on expectations that the Fed will further slow down its pace of rate hikes to 25 basis points when it meets next in February and start cutting rates later in the year in response to a slowing economy.
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