USD/INR holds positive ground around 83.15 during the Asian session on Monday. The uptick of the pair is supported by the stronger US dollar (USD) and
the higher-for-longer rate narrative in the US. Investors await the Reserve Bank of India rate decision, which is expected to keep the policy repo rate steady on Friday.
About the data on Friday, the Personal Consumption Expenditures Price Index rose by 3.5% YoY in August from the previous month of 3.4%, in line with the market estimation. The annual Core PCE Price Index grew 3.9% from 4.3% in July, meeting the expectation. On a monthly basis, the PCE Price Index and the Core PCE Price Index rose by 0.4% and 0.1% MoM, respectively. Both of these figures came in below the market estimations.
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