Ella 
The Indian rupee (INR) lost momentum on Wednesday near its lowest in a month. A stronger U.S. dollar (USD), rising crude oil prices and weakness among other Asian peers supported the pair’s losses. However, a positive outlook for the Indian economy could boost the Indian rupee and limit the pair’s upside. The Reserve Bank of India (RBI)’s monthly bulletin on Tuesday showed that the Indian economy is expected to grow by 8% this year on the back of a strong macroeconomic environment, further boosting the growth trajectory of the Indian economy.
The Fed’s interest rate decision will be in focus on Wednesday, with no changes expected. Traders will be closely watching Chairman Jerome Powell’s press conference and economic forecasts following the meeting. On Thursday, India will release the S&P Global Manufacturing and Services Purchasing Managers Index.
