MUMBAI, Sept 24 Reuters The Indian rupee39;s winning streak was poised to halt on Tuesday amid the usual dollar payments by importers, while forward premiums held at multimonth highs after dovish remarks by Federal Reserve officials.

The rupee was at 83.6250 to the U.S. dollar at 1156 a.m. IST, down from 83.5525 in the previous session. The rupee had managed to rally by nearly 0.5 over the last six sessions, a pace that momentum indicators suggested may have been too quick.

The decline in the rupee from Monday39;s high of 83.43 is just due to the normal flows and was expected, a currency trader at a bank said.

It is just a part of the process of the market adjusting to a new level, while the nearterm direction bias remains very well on the upside for the rupee, he said.

Amit Pabari, managing director at FX advisory firm CF Forex, concurred. Any upside moves on dollarrupee should be seen a prime opportunity for sellers to jump in, he said.

Meanwhile, the 1year dollarrupee forward premium held near to the highest level since April 2023 on bets of more Fed rate cuts.

CHINA STIMULUS

China39;s broad monetary stimulus and property market support measures were the main talking points in Asia on Tuesday. Chinese equities rallied, and the offshore Chinese yuan climbed to 7.0310 to the U.S. dollar.

A rally in the yuan should obviously support the rupee, a rates and currency proprietary trader at a bank said.

However, it is not that straightforward. A China stimulus makes…