USD/INR extends slide to new three-week lows despite US data
The USD/INR dropped further to 71.22 hitting the lowest intraday level since November 11. The pair remains near the lows, on its way to the third daily decline in a row.
The Indian Rupee continues to move on a strong note against the US dollar and also across the board. Over the last five trading days is among the top performers. USD/INR kept a bearish bias even after better-than-expected economic data from the United States.
USD/INR drops to three-week lows near 71.30
The cross fails to benefit from broad-based US dollar strength led by rising expectations of a likely US-China trade deal, especially after US President Trump’s pro-trade deal comments. The US dollar index flirts with two-week highs of 98.40, up +0.13% so far.
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