USD/INR holds below 71.00, but still positive for the day
The USD/INR rebounded today after hitting five-week lows at 70.71. The recovery found resistance under 71.00 and as of writing trades around 70.85, far from the top, but still about to post the first daily gain in five days.
USD/INR: Rebound stalls just below 71.00, focus on US CPI
Amid rising stagflation risks in India and fresh broad-based US dollar buying, USD/INR staged a solid comeback from five-week lows of 70.71 reached in the overnight trades.
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