USD/INR Price News: Indian rupee bears attack 80.00 despite sluggish USD ahead of key data

policymakers’ attempts to talk down the expectations surrounding a 100 bps rate hike in July. Further, mixed US data and easing yields curve inversion also probed the DXY buyers the previous day.

On the data front, the US Bureau of Labor Statistics mentioned that the Producer Price Index for final demand in the US climbed to 11.3% on a yearly basis in June from 10.9% in May. This print surpassed the market expectation of 10.7%. Additionally, there were 244,000 Initial Jobless Claims in the week ending July 9 versus the previous week's print of 235,000 and market expectation of 235,000. The Weekly Jobless Claims were the highest in five months.

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