The Indian Rupee Traded On A Flat

The Indian Rupee traded on a flat note yesterday as disappointing release of ADP/NFP Non-Farm Employment Change data from the US pushed the American currency lower which in turn worked in favor of the Indian Rupee. 

Moreover, minutes from the Federal Reserve's December’16 meeting suggested a less hawkish stance from policymakers which boosted foreign inflows in emerging market equities including India. However, in spite of all the above factors, USDINR is likely to weaken in today’s trading session as the upcoming news conference by President-elect Donald Trump will keep the DX strong in turn keeping the Indian Rupee pressurized. -

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