USD/INR Price News: Indian Rupee slides below 82.00 as US Dollar grinds higher, Fed clues, China eyed – by anilpanchal7 USDINR Fed China RiskAversion Oil
US Housing Starts jumped to the highest level since April 2022 by rising 21.7% MoM in May versus -2.9% recorded in April and -0.8% market forecasts, which in turn favor the DXY bulls. On the same line, Building Permits were also upbeat for the said month, up 5.2% MoM versus -5.0% expected and -1.4% previous readings .
It should be noted that the geopolitical fears surrounding the US and China weigh on the sentiment in Asia and weigh on the Indian Rupee . China’s Ministry of Foreign Affairs said that the US has distorted its political promise to China. Late on Tuesday, US President Joe Biden termed Chinese President Xi Jinping a dictator and flagged concerns of intense Sino-American tension earlier in the day.
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