The Indian rupee saw tepid moves today after recording good gains this week. INR ended flat at 94.59 per US dollar, coming off its best level in five-weeks. INR has been supported recently as a rebound from all-time lows has extended. The US dollar index is consolidating just above two-week low as focus has shifted to the upcoming Federal Reserve monetary policy meeting. Dollar has turned lower this week amid a rise in risk appetite and US dollar index is currently quoting at 99.40 mark, up modestly on the day. The Federal Reserve is widely expected to leave policy rates unchanged at the June 16-17 FOMC meeting.
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