Indian rupee seen edging lower after Fed’s hawkish surprise revives rate-hike bets

The Indian rupee faces near-term depreciation pressure after the Federal Reserve delivered a hawkish surprise that revived expectations of further rate hikes and lifted the U.S. dollar. The move has weighed on emerging-market currencies. Traders have adjusted positions and lowered their short-term rupee forecasts, viewing the currency as among the more vulnerable in the complex.