The Indian rupee traded higher against the U.S. dollar in the morning session on Tuesday, as the latter weakened across the board after Trump accused China and Europe of manipulating their currencies and said he was “not thrilled” with the Fed’s rate hikes.
In an interview with Reuters, Trump expressed discontent with the Fed’s rate hikes and suggested that the central bank should do more to help stimulate the US economy.
The rupee advanced to an 8-day high of 69.54 against the greenback, and held steady thereafter. If the rupee rises further, 68.00 is likely seen as its next resistance level. At yesterday’s close, the pair was worth 69.76.