The Indian rupee weakened to a fresh all-time low on Wednesday, extending its losing streak as overseas debt repayments and importer hedging demand continued to pressure the local currency despite limited support from higher import duties on precious metals. The rupee weakened 0.1% to 95.7450 per dollar, slipping past its previous record low of 95.7375
The EUR/GBP cross advanced during the early European session on Tuesday, gaining traction near 0.8665 as the British Pound weakened amid growing political uncertainty in the United Kingdom. Investors are also awaiting the release of the ZEW economic sentiment surveys from Germany and the Eurozone later in the day, which could provide fresh direction for
The United States and Japan have reaffirmed close coordination in tackling excessive volatility in currency markets, according to comments from US Treasury Secretary Scott Bessent following meetings in Tokyo. Bessent confirmed through a post on X, formerly known as Twitter, that the two countries continue to maintain “constant and robust” communication regarding foreign exchange market
Sterling weakened against both the dollar and the euro on Tuesday as investors closely monitored political developments in the UK amid mounting concerns over Prime Minister Keir Starmer’s future in office. Starmer was consulting colleagues on Tuesday about whether he could remain as prime minister ahead of a crucial cabinet meeting. The discussions followed the
The US dollar strengthened early Tuesday as investor sentiment weakened amid rising concerns over the fragile ceasefire between the United States and Iran. Markets are also closely watching the upcoming US Consumer Price Index data for April, which could influence expectations around Federal Reserve policy. The souring risk mood pushed investors toward safe-haven assets, helping
The pound struggled to extend gains against the dollar on Monday, with GBP/USD failing to build on a modest intraday bounce as fresh US dollar buying capped its recovery. Optimism over a potential US-Iran nuclear deal faded quickly after renewed hostilities in the Strait of Hormuz and widening disagreements over Tehran’s nuclear programme. That, combined
The USD/ZAR exchange rate will be in the spotlight this week as investors react to a recent court ruling that raised impeachment risks for President Cyril Ramaphosa. It was trading at 16.43, down from the April high of 16.91 and the year-to-date high of 17.2470. Cyril Ramaphosa’s impeachment risks rise The South African rand has
The dollar traded firmer against major currencies during Friday’s Asian session after renewed hostilities between the United States and Iran unsettled financial markets and boosted demand for safe-haven assets. The US and Iran exchanged fire and sharp remarks again on Thursday, increasing pressure on a fragile month-long ceasefire. The tensions resurfaced as Iran reviewed Washington’s
The dollar traded firmer against major currencies during Friday’s Asian session after renewed hostilities between the United States and Iran unsettled financial markets and boosted demand for safe-haven assets. The US and Iran exchanged fire and sharp remarks again on Thursday, increasing pressure on a fragile month-long ceasefire. The tensions resurfaced as Iran reviewed Washington’s
The Indian Rupee failed to extend its three-day winning streak against the US Dollar on Friday as renewed geopolitical concerns and rising oil prices weighed heavily on investor sentiment. The USD/INR pair rebounded sharply to near 94.56 after touching a two-week low of 94.03 in the previous session. The Indian currency came under pressure after