The Indian rupee could see some recovery in opening trades on Wednesday as dollar retreated amid economic data adding to hopes of a Federal rate cut. US CPI inflation report on Wednesday is expected to offer some hints about the Federal Reserve’s (Fed) interest rate cut path. Risk aversion in the global markets amid heightened geopolitical tension in the Middle East between Israel and Iran also dented sentiments. On Tuesday, INR witnessed range-bound trading and settled for the day on a flat note at 83.97 against the US dollar. The benchmark S&P/BSE Sensex fell 692.89 points, or 0.87 percent, to 78,956.03 while the broader NSE Nifty index settled at 24,139, down 208 points, or 0.85 percent, from its previous close.