The Indian rupee rose to its strongest level in over six weeks on Thursday after the Federal Reserve kicked off policy easing with a 50-basis-point rate cut, but traders expect importer dollar bids to limit the currency's immediate gains.

The stock market, Indian rupee, and gold price are all likely to do better following the much-anticipated rate cut by the Fed in the US. Here’s why optimism may be warranted

Arthur Hayes, co-founder of BitMEX, has voiced concerns that the recent U.S. Federal Reserve rate cut could have been politically motivated to influence upcoming elections, potentially leading to increased market volatility and inflation.

The Indian rupee is expected to open higher on Friday and add to its weekly advance, boosted by healthy risk appetite and bets the U.S. Federal Reserve will push borrowing costs further lower.

The U.S. dollar slipped in choppy trading on Wednesday as markets grappled with the supersized 50 basis point interest rate cut, as well as the switch to an easing monetary policy stance delivered by the Federal Reserve.

The market is celebrating the Fed's 50 basis point rate cut. Read why the potential benefits of the cut are already priced in.

U.S. stock index futures surged on Thursday, with those tracking the Nasdaq climbing nearly 2% following the Federal Reserve's move to start its easing cycle with a half a percentage point cut, aiding a soft landing for the world's biggest economy.

The Federal Reserve yesterday cut its benchmark interest rate a larger-than-usual half-percentage point, to between 4.75% and 5%. It was the Fed's first cut since jacking up interest rates to 23-year highs two years ago to conquer soaring inflation.