The US Dollar Indian Rupee (USD/INR) exchange rate is trading mildly higher after a 1% sell off in the previous session.
The Rupee hit its strongest level in over 5 months on Monday on strong equity markets and after a reported half a billion dollar inflow from Brookfield global asset managers.
The US Dollar is trading broadly lower versus its major peers as risk on trading sees demand for the safe haven currencies decline. The mood in the market is upbeat after both the US and China reaffirmed their commitment to the Phase 1 trade deal.
US consumer confidence is due to be released shortly and will provide further clues over the state of the economic recovery in the world’s largest economy.
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