Fed Expected to Raise Rates Next Month, Rallying Dollar and Pressuring Rupee

Indian rupee expected to slide due to increase in U.S. yields and dollar index
Rupee has outperformed other Asian currencies in June but faces headwinds from U.S. rate hike bets and economic recovery in China
Indian importers advised to hedge against currency risk as analysts forecast rupee will climb to 83 per dollar in next quarter from 82 currently
Fed seen likely to raise rates in July and November, boosting dollar and threatening carry trade positions
U.S. economic data showing strong GDP growth and fall in jobless claims fuel expectations of tighter U.S. monetary policy