The Indian rupee is set to revisit record lows as US-Iran deadlock extends, tensions rise
EUR/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
UOB | Bullish | 1.1800 |
ING | Neutral | 1.1700 |
Rabobank | Bullish | 1.1800 |
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FUNDAMENTAL OVERVIEW USD: The US dollar weakened across the board last week after the US Treasury announced that it will at least double the size of its liquidity-support buyback operations for longer-dated Treasury securities, increasing the maximum purchase from $2 billion to a
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4 itemsThe Indian Rupee extends the losses amid US-Iran stalemate with record lows in sight
The Indian Rupee (INR) is under significant pressure, primarily driven by geopolitical tensions surrounding the US-Iran stalemate, which has pushed oil prices back into triple digits. Per the full note from Giuseppe Dellamotta, the USD has regained strength as the situation remains unresolved, and the Fed's upcoming policy decision could further influence the dollar's trajectory. The desk anticipates that the INR will continue to face downward pressure, with potential record lows on the horizon if the geopolitical landscape does not improve. This aligns with our broader bearish outlook on the INR against the USD, particularly as the Fed may adopt a more hawkish stance in light of resilient US economic data.