The Indian rupee has hit a new high against the US dollar but traders are cautious ahead of the US Federal Reserve’s rate decision later on Wednesday. The rupee was at INR82.2875 to the dollar in morning trade, after reaching INR82.2725, its highest point since 2 June. Meanwhile, many Asian currencies were weaker as risk sentiment was bolstered by expectations the Fed will halt rate rises. The dollar index hovered close to a more than three-week low while the two-year US yield fell slightly in Asia after rising to its highest level since 10 March.
Indian Rupee Gains Against US Dollar as Momentum Weakens Ahead of Fed Meeting
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