The rupee settled at 69.2550 against 69.26 at the previous close. The local unit moved in 69.03-69.3250 per dollar band intra-day.
USD/INR ends down on likely FII inflows into the local debt, lower Brent, weak Dollar. latest development on trade war front came with China accusing US of economic terrorism and also warned that it will stop the export of rare earth metals which are crucial for manufacturing sector. In the coming week, USDINR will be driven by RBI policy meeting and NFP data from US. Lingering tensions between the US and China added to the dollar's strength, following the latest comments from US President Trump.
The U.S. dollar weakened to its lowest since mid-April on Tuesday as investors bet the Federal Reserve could soon cut interest rates, while concerns about global growth encouraged investors to buy the safe-haven yen. The dollar index slipped to 96.995 .DXY.
The euro rose on the back of dollar weakness but lower-than-expected euro zone inflation in May brought the single currency's rally to a halt. The euro pulled back from six-week highs after weaker than expected flash consumer price inflation for the month of May but was still 0.1% firmer at $1.1247.Euro meets on Thursday, where investors will look to see how concerned policymakers are about signs of a downturn in growth.
Oil prices fell on Tuesday to their lowest since January on signs that an economic slowdown is starting to dent energy demand and as Russia's top oil producer said it opposed extending joint cuts with OPEC until the end of the year.
Gold prices edged up on Tuesday, hovering near a three-month high hit in the previous session, as global slowdown worries driven by trade conflicts amid expectations of a U.S. interest rate cut.
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