INR lax around 85.60 per US dollar

Indian Rupee is lax around 85.60 per US dollar today. INR is witnessing tepid moves this week even as the US dollar fell to lowest level in over three and half years. Fed Chair Powell reaffirmed a data-dependent stance while acknowledging tariff-linked inflation as a limiting factor. The Senates narrow approval of a tax-and-spending bill, projected to balloon the national debt by $3.3 trillion, added to market anxiety and kept the US currency under check. The domestic equity benchmarks ended with modest losses today and are witnessing muted trades today too.

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