USD/INR Price News: Indian rupee cheers risk-on mood above 82.00 despite Fed concerns – by anilpanchal7 USDINR RiskAppetite CentralBanks Currencies Oil
UK-inspired optimism fades amid a lack of major catalysts, policymakers’ aggression.Hopes of RBI’s intervention, softer oil restrict immediate upside.
British Finance Minister’s, also called Chancellor, reversal of earlier policy announcement boosted the market’s hope that London will overcome the impending market collapse. “Under the new policy, most of Truss's 45 billion pounds of unfunded tax cuts will go and the two-year energy subsidy scheme for households and businesses - expected to cost well over 100 billion pounds - will now be curtailed in April,” stated Reuters.
It should be noted that the Reserve Bank of India’s latest interventions around 82.40 also exerted downside pressure on the quote.
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