Rupee stands out as top performer last wk in Asia

Global currency markets remained largely rangebound last week as a softerthan-expected U.S. inflation print reinforced expectations of future Federal Reserve rate cuts, while the Bank of Japan's widely anticipated rate hike failed to provide lasting support to the yen, according to a weekly FX report by Union Bank of India.

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Notably, the US dollar remained mildly softer and range-bound, while in Asia, the Indian rupee stood out as the top performer, appreciating 1.6%.