USDINR Declines as Inflation Figures Add Pressure, But Expect A Rebound
Strong inflation data from India broke the US dollar’s hold of the rupee on Tuesday, with the USDINR pair down by 0.06% and trading at 86.62 at the time of writing. India’s Wholesale Price Index (WPI) reading for December came out at 2.37%, substantially up from November’s 1.89% and exceeding the forecast rate of 2.30%….