Indian Rupee Faces Range-Bound Risk Ahead of June CPI – SocGen

Societe Generale strategists note that the Indian rupee is vulnerable to range-bound trade risks as markets await the June Consumer Price Index (CPI) data. The report is seen as a key catalyst for bond markets, with the 10-year Indian government bond (IGB) yield currently hovering near its 200-day moving average.

A significant deviation in CPI could trigger a break from the recent range, but for now the pair remains constrained. The strategists suggest that the INR is likely to stay within familiar limits until the inflation print provides clearer direction.