Rupee set to rise after soft US data boosts Fed rate cut odds

The Indian rupee is expected to strengthen at open on Friday, buoyed by widespread US dollar weakness following soft economic data that supported expectations for a Federal Reserve rate cut later this year. The 1-month non-deliverable forward indicated that the rupee will open at 85.34 to 85.36 to the US dollar compared with 85.55 in the previous session.