💨 Abstract

The Indian rupee is expected to strengthen further on Thursday due to a dip in U.S. Treasury yields following the Federal Reserve's decision to slow the pace of balance sheet runoff and indicate a likelihood of two interest rate cuts this year. The rupee has been on a six-session winning streak, rallying by over 1%. However, a currency trader notes that the extent of the rally has been surprising and may not continue.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖