{
  "id": 16864130,
  "title": "Indian Rupee is under pressure ahead of Fed’s monetary policy",
  "url": "https://urgent.news/2026/10/28/indian-rupee-is-under-pressure-ahead-of-feds-monetary-policy",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-28T06:13:58.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/indian-rupee-is-under-pressure-ahead-of-feds-monetary-policy-202610280613"
  },
  "original_language": "en",
  "account": "The Indian Rupee (INR) is experiencing pressure as it opens lower against the US Dollar (USD) on Wednesday. The USD/INR pair gains slightly, reaching around 95.16. Multiple factors are contributing to the rupee's underperformance, including oil price recovery and uncertainty surrounding the Federal Reserve's (Fed) monetary policy announcement. As of Tuesday, a Yemeni Houthi military spokesperson claimed they launched a ballistic missile towards the Ras Tanura oil refinery in eastern Saudi Arabia, the kingdom's largest refinery. This incident has fueled worries about increased energy supply risks, which has led to a rise in oil prices. Higher oil prices, in turn, have bolstered US Treasury Yields, which makes riskier currencies less appealing. The 10-year US bond yields have risen by 0.46% to near 5.02%. The Federal Reserve (Fed) is expected to maintain interest rates in the 3.75%-4.00% range during their announcement later in the day. The CME FedWatch tool suggests that the Fed may keep rates unchanged. Although Fed members initially signaled a willingness for further rate hikes, their recent cautious tone, as conveyed by Fed Chair Jerome Powell, indicates a more flexible approach to policy tightening. Powell's speech, which was characterized by an 8/10 FXS Speechtracker score, suggests a higher terminal rate but a more gradual path to rate hikes. This hawkish stance, along with persistent inflation drivers like AI-related investment, ongoing energy shocks, and a still \"solid and stable\" labor market, raises concerns about inflation expectations. Financial markets are currently pricing in a more extended period of restrictive rates. The USD/INR pair is currently trading at 95.1355, and it remains below the 20-period exponential moving average (EMA) at 95.3253. The pair's failure to reclaim this short-term EMA suggests that rallies are being sold off, while the Relative Strength Index (RSI) at around 44 indicates a lack of upward momentum. In the short term, the bearish bias is expected to persist.",
  "summary": "The Indian Rupee (INR) gives back its opening gains and turns slightly negative against the US Dollar (USD) on Wednesday.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}