New Delhi, Dec. 25 -- Global currency markets remained largely range-bound last week as a softer-than-expected U.S. inflation print reinforced expectations of future Federal Reserve rate cuts, while the Bank of Japan's widely anticipated rate hike failed to provide lasting support to the yen, according to a weekly FX report by Union Bank of India.

Notably, the US dollar remained mildly softer and range-bound, while in Asia, the Indian rupee stood out as the top performer, appreciating 1.6%.

However, the Indian rupee witnessed heightened volatility during the week and appreciated ~1.27% last week after hitting fresh all-time lows of Rs 91.09 against USD on 16th Dec'25, influenced by weak global cues from the US, major central banks' poli...