The US Dollar Indian Rupee (USD/INR) exchange rate is trading higher on the day but is facing losses across the week.
President Trump testing positive for Covid sparked risk off trading. Investors sold out of riskier assets and currencies and sought the safe haven properties of the US Dollar.
The main concern for investors is what the implications are for the US Presidential elections. The high levels of uncertainty is what is dragging on risk sentiment.
US non-farm payrolls recorded 661,000 new jobs in September. This was less that the 850,000 forecast, pointing to a slowing recovery in the labour market,