The Indian rupee and other Asian currencies gained ground Monday due to U.S. trade policy shifts and fiscal concerns weakening the dollar. The rupee hit a two-week high, though it lags other Asian currencies in May’s gains, with forward premiums declining.

• The rupee rose past 85/USD for the first time in weeks.
• Trump’s tariff threats pressured the dollar index.
• Forward premiums fell below 2% amid rate cut expectations.