US and India could announce limited trade deal in January – WSJ

US President Trump is planning to visit India as early as this month and a limited trade deal could be announced if he decides to do so, the Wall Street Journal reported on Friday, citing US and Indian officials.

"The US wants India to ease pricing caps on medical equipment. Foreign companies that supply many of these products, including US manufacturers, would benefit from the changes," wrote the WSJ's Gabriel T. Rubin. "The visit would come on the heels of a new trade deal with China."

The INR failed to capitalize on these headlines and the USD/INR pair was last up 0.15% on the day at 71.060.