Due to mixed signals from the Fed, Asian currencies are weakening, and the recovery of the Indian Rupee may stall. The 1-month forward Exchange Rate indicates an opening range for the Indian Rupee against the US Dollar at 87.88-87.92. Analysts point out that Powell's hawkish tone offsets the dovish dot plot. Despite the recent softening of the Dollar and inflows of funds pushing the Rupee to rise, the Rupee still faces pressure from regional forex trends, although the support level is around 88.

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