USD/INR Price News: Indian Rupee again recovers from 83.00 as US Dollar traces softer yields – by anilpanchal7 USDINR RiskAppetite CentralBanks YieldCurve GDP
RBI Minutes defy hopes of pause in rate hikes amid inflation woes.US Q3 GDP, PCE details will be important for immediate directions.
“RBI cannot afford to prematurely pause its rate tightening cycle with inflation staying above its upper tolerance band,” stated RBI Minutes on Wednesday. The Minute Statement also quotes Governor Shaktikanta Das as saying that a premature pause in monetary policy action would be a costly policy error at this juncture.
On the other hand, the US 10-year Treasury bond yields remain depressed near 3.65% after retreating from the monthly high of 3.72% the previous day. The same weighs onIt’s worth noting that the DXY bounced off it's weekly low the previous day as the US Conference Board’s Consumer Confidence jumped to the eight-month high of 108.3 for December, compared to the market forecasts of 101.0 and the revised prior readings of 101.40. However, the US Existing Home Sales for November, 4.
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