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The rupee was expected to open marginally higher on a Friday, tracking gains in Asian currencies on bets of an early Federal Reserve pivot. Other Asian currencies rose 0.2% to 0.5%, and the offshore yuan hit its highest since June.
Regional currency strength combined with an RBI that limits rupee moves keeps import costs for Indian feed buyers relatively stable. Expected Fed cuts are the main driver of the broader dollar weakness.
brecorder.comReutersDec 29, 2023Not enough comparable past events yet for a historical read.
After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
