Asian FX and Trade Developments💱 Forex•USD/INR

Asian FX Gains on US-India Trade Deal, RBA Watch

February 3, 2026, 06:03 PM175 words6 sourcesAI-Generated · Reviewed by editorial team
USD/INR
Asian FX Gains on US-India Trade Deal, RBA Watch

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Asian currencies experienced varied movements this week, largely influenced by a newly confirmed trade deal between the US and India and anticipation surrounding the Reserve Bank of Australia’s (RBA) policy decision. The Indian Rupee (INR) surged to a 2.5-week high against the US Dollar (USD), with the USD/INR pair falling to near 90.128, following the agreement which lowers US tariffs on Indian goods from 25% to 18%. This deal is expected to boost Indian exports and trigger a rally in domestic markets, contingent on India continuing to reduce oil purchases from Russia. The Australian Dollar (AUD) also strengthened ahead of the RBA meeting, with expectations of a rate hike reinforcing a tightening cycle despite a decline in building permits. Conversely, the Japanese Yen faced pressure from a rebounding dollar. The Chinese Yuan stood out, reaching its strongest level since mid-2023 due to strong fixings. South Korea’s CPI growth came in below expectations at 2% in January. Market sentiment remains cautious, with traders monitoring the specifics of the US-India trade deal and the RBA’s policy stance.

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This article is based on analysis of 6 source articles from our news database.

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    Investing.com··investing.com·
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    FXStreet··fxstreet.com·
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