USD/INR steady near two-month high as markets brace for Fed decision, Iran–Israel conflict deepens

  • The Indian Rupee (INR) remains on the back foot against the US Dollar (USD) on Wednesday, marking its second consecutive day of weakness, despite a relatively subdued Greenback ahead of the key Federal Reserve's interest rate decision. Higher Crude Oil prices and deepening tensions between Iran and Israel continue to cloud sentiment, keeping emerging market currencies, such as the Rupee, under pressure.