2019.10.3007:14:00UTC+00Indian Rupee Slides To 5-day Low Against U.S. Dollar

The Indian rupee weakened against the U.S. dollar in morning deals on Wednesday, as investors cautiously awaited the Fed decision due later in the day.

The Fed is widely expected to reduce interest rates by another quarter point.

Optimism over a U.S.-China phase-one deal receded after reports suggested an interim deal may not be signed by a summit in Chile next month.

The Indian rupee declined to a 5-day low of 70.83 against the greenback, from Tuesday's closing value of 70.68. The next possible support for the rupee is seen around the 72.00 region.