Rupee opened 20 paisa higher at 85.48 levels, amid FII’s flows into domestic market, as money is likely to move towards emerging markets like India due to trade war between global leaders.

DXY is trading is trading at 99.50 level. In a speech on Wednesday, Fed Chair Jerome Powell warned that tariffs could fuel inflation and slow growth, complicating the Fed’s dual mandate of price stability and maximum employment. Powell also signaled that the Fed is in no rush to cut interest rates, citing the need for more clarity before making any policy moves. Meanwhile, investors awaited signs of potential trade negotiations between the US and China, with Beijing reportedly open to talks under certain conditions.