USD/INR eyes 1% rupee rally on RBI hedging curbs; USD/CNY fixed at 6.7313

Asia-Pacific trade is dominated by Gulf strikes and doubts over an energy truce. The Indian rupee is set for a 1% rally after the Reserve Bank of India moved to curb a hedging rush that had reached a record $77 billion, which points to downward pressure on USD/INR. The People's Bank of China set the yuan reference rate at 6.7313. The source gives no further price moves, pip figures or technical levels for either pair. Gold edged up in Asia on the energy truce narrative, though the source describes that support as very shaky given the doubts surrounding the truce. In equities, TSMC is tipped for a sixth straight record quarter, with profit seen up 65% on AI demand. CICC is tilting toward dividend payers as Chinese growth stocks lose their shine. In crypto, early Ethereum Foundation ETH recipients moved $11 million to Kraken. A MUFG note on US CPI is also referenced, but its details are cut off. For traders, the RBI's intervention in rupee hedging is the clearest FX driver. Geopolitical risk around the Gulf truce remains a key swing factor for safe-haven flows and gold.