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The Indian rupee was expected to open slightly stronger on Thursday after the Fed raised rates by 25 basis points and left the door open to further hikes. Analysts widely expected the hike to be the last, and the dollar index fell to 100.80.
A softer dollar after the Fed decision lowers the local-currency cost of dollar-priced commodities and can support demand for US grains and oilseeds.
brecorder.comReutersJul 27, 2023After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
