According to CoinMeta, the Indian rupee has seen a significant rise following large-scale selling of US dollars by various parties. Last weekend, the US dollar generally declined, with the initial weakness stemming from the Federal Reserve's interest rate decisions. Although the additional dissent from Federal Reserve officials was not considered a major hawkish surprise, on Thursday, there was a large influx of selling pressure on the US dollar due to interventions by Japan and South Korea. On Friday, it was reported that the US Treasury Department participated in this intervention, marking the first joint action of its kind since 2011. The Japanese Finance Minister and the US Treasury Secretary indicated that they would not hesitate to undertake more joint interventions in the future. Given that the current trading levels of the US dollar against the Japanese yen are similar to those seen in April and May, the likelihood of further intervention in the near term is low, so the US dollar should return to being traded based on fundamental factors. Overall, the market is awaiting developments regarding US policy and the situation between the United States and Iran; if tensions ease, it could put pressure on the US dollar and alleviate inflation concerns. The Indian rupee has benefited from the lack of major hawkish surprises in the Federal Reserve's decisions and the large influx of selling pressure on the US dollar. On Wednesday, it is expected that the Reserve Bank of India's interest rate decision will remain unchanged at 5.25%, which may convey a cautious or slightly hawkish tone.