Key Points
As the US inflation grew at a slower-than-expected pace, the dollar weakened..
Rupee strengthened after consolidating in a narrow range for the last few weeks ahead of the important FOMC policy statement that was released earlier this week..
This week, on the domestic front, no major economic data is expected to be released but global cues will continue to influence the rupee..
Dollar weakened against its major crosses after inflation in the US grew at a much slower pace than expected..
After the ECB policy statement, the Bank of Englands policy meeting will be in focus wherein the central bank is expected to raise rates by 25bps and maintain a hawkish stance and that could lead to further gains for the pound..
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