Rupee follows other Asian currencies higher, but importer activity may limit gains

The Indian rupee rose to a one-week high against the dollar, up 0.15% to 88.08 as expectations of a Fed rate cut pushes Asian currencies up. The U.S. dollar index fell 0.1% to 97.22. HSBC analysts pointed out that the Fed's easing cycle could put pressure on the dollar, while a trader predicted that the rupee would fluctuate between 87.50-88.45 against the dollar. The impact of the US-India trade negotiations and the JPMorgan index adjustment on the market is limited.