mumbai july 12 reuters  the indian rupee rose on wednesday as the dollar slipped ahead of the us inflation data with the local currency nearing a zone that traders said it may find difficult to overcome the rupee was at 8229 to the us dollar up from 823650 in the previous session the rupee has been on a recovery path due to the dollars decline since the us nonfarm payrolls data on friday it is difficult to see the usdinr moving below 82208230 the resistanceturnedsupport area a forex trader said adding shortterm speculators and importers are likely to step in the dollar index extended losses in asian trading hours slipping to a twomonthlow of 10138 that lifted asian currencies between 01 and 03 data due later in the day is expected to show that both headline and core us consumer price index rose 03 monthonmonth in june per a reuters poll of economists on a yearonyear basis the headline and core cpi are expected to have climbed 31 and 5 respectively the inflation reading comes less than two weeks before the us federal reserve meeting at which a 25 basis points rate hike is widely expected if the consensus is correct about headline and core inflation rising by 03 monthonmonth the fed will not be convinced that inflation can return to its 2 target this year dbs research said in a note indias june inflation data due about half an hour before the us data is expected to have risen 458 onyear from 425 in may according to a reuters poll the rupee forward premiums were mostly unchanged before the us and india data the 1year implied yield was at 164