As geopolitical tensions ease and oil prices stabilize, the focus shifts to central banks and economic data for guidance on foreign exchange (FX) movements. While some currencies have fully recovered versus the US dollar, others are struggling, and a few remain resilient. The upcoming 17 June Federal Open Market Committee (FOMC) meeting could be a turning point for the US dollar, with any more hawkish than expected stance potentially boosting its prospects. In India, the Reserve Bank of India (RBI) is expected to keep monetary policy steady at 5.25%, but past experiences show that defending the Indian rupee requires careful rate hike timing.