(Reuters) - The Indian rupee is expected to open higher against the U.S. currency on Monday, tracking the dollar's tumble after the U.S. jobs report.
The rupee is tipped at around 82.15 per U.S. dollar in initial trades, compared with 82.44 in the previous session.
The dollar index suffered its worst session in almost seven years on Friday, weighed by the upbeat risk mood following the U.S. jobs report. The S&P 500 index jumped 1.5%.
The rupee should see a positive opening, but then "one look at oil prices and the U.S. yields will tell you" that, ideally, the 82-per-dollar should not be under threat, a trader at a Mumbai-based bank said.
"Plus, the pair (USD/INR) has good support at 82.10-82.15 levels."
For traders, the Friday's jobs report did not provide much clarification on what the U.S. Federal Reserve is likely to do in December.
U.S. employers added more jobs than economists had expected last month, but the unemployment rate ticked higher. Further, wages on rose more than expected month-on-month.
While the dollar plunged against its major peers on Friday and U.S. equities rose, Treasury yield were mostly unmoved and the odds of whether the Fed will opt for a 50 basis points or a 75 basis points hike in December were unchanged.
Meanwhile, the offshore Chinese yuan surrendered some of its gains from Friday's rally after China, over the weekend, dashed hopes that pandemic curbs could be relaxed anytime soon. The yuan was down 0.8% at 7.2310 to the dollar.
Oil prices inched lower on concerns over demand from China after rallying more than 4% on Friday.
This week, the focus for investors will be on the U.S. inflation data due on Thursday, the main determinant currently of Fed's monetary policy.