India, April 4 -- The Indian rupee strengthened against the U.S. dollar in the early European session on Friday, as a weakening dollar, plunging oil prices and expectations for accelerated Federal Reserve interest-rate cuts supported the INR.
President Trump's tariffs are higher than anticipated, which increases the likelihood of a recession in the U.S. economy and devalues the dollar.
The dollar extended its drop and yields on the 10-year U.S. Treasury hovered around the 4 percent mark as investors await a key U.S. jobs report and a speech by Fed Chair Jerome Powell for additional clues on the outlook for the world's largest economy.
Oil extended losses after tumbling over 6 percent in the previous session following an OPEC+ decision to...