Ella 
The Indian rupee weakened on Tuesday on a stronger dollar. The Indian rupee is expected to trade slightly firmer, supported by carry trades and expectations that the Reserve Bank of India (RBI) will ease monetary policy slower than the Federal Reserve. However, continued debt-related dollar inflows, rising crude oil and rising US bond yields may prevent USD/INR upside in the near term.
Goldman Sachs expects two rate cuts in India in the second half of the year. If economic conditions are weaker than expected, the Reserve Bank of India may be forced to cut interest rates more quickly and sharply.
Traders will pay close attention to the minutes of the latest monetary policy meetings of the Federal Reserve and the Reserve Bank of India (RBI), due later on Wednesday and Thursday respectively.
