Motilal Oswal says that today the USD-INR pair can bid in the range of 69.20 and 69.90.
The Indian rupee slipped in early trading on Friday. It closed 31 paise lower at 69.75 against the previous close of 69.44 on Friday.
On June 20, the Indian rupee closed 24 paise higher at 69.44 against the US dollar on the back of a rally in the domestic equity market. Two Days Free Trading Trial Click Here Nifty Future Tips.
The rupee increased after the dovish commentary by the Fed, which decided to keep the doors open for cuts in the near future. America's 10-year yields came under pressure after the Fed indicated signs of a cut.
Motilal Oswal said that the Fed has certainly become more sluggish than before and it seems that they are going to cut in the July meeting.
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