USD/INR steady as India-US trade talks progress amid tariff concerns

USD/INR remains stable around 84.50 as India's trade ministry confirms positive progress in bilateral trade negotiations with the United States. The talks, which have been anticipated for several weeks, appear to be advancing despite earlier concerns about potential delays due to regional tensions with Pakistan. Market participants are closely monitoring these developments as a successful trade agreement could significantly impact currency flows between the two nations. The rupee has shown resilience against the dollar, supported by steady foreign institutional investor inflows and improving domestic economic indicators. Technical analysis shows USD/INR trading within a tight range of 84.30-84.70, with immediate resistance at 84.65 and support at 84.35. A breakthrough in trade negotiations could strengthen the rupee further, potentially pushing USD/INR toward the 84.00 psychological level, while any setbacks might see the pair testing 85.00.