LONDON (Reuters) - The U.S. dollar edged lower on Wednesday but held on to most of the previous day's gains, after leaping on Federal Reserve officials' hints at aggressive rate hikes and drawing support amid a U.S.-China flare-up over Taiwan.
The rupee depreciated 27 paise to 78.80 against the US dollar in opening trade on Wednesday, tracking a muted trend in domestic equities
Gold prices rose on Wednesday as a pullback in the dollar and Sino-US tensions helped counter pressure from a rise in US Treasury yields after hawkish comments from Federal Reserve officials.
The US dollar remained elevated on Wednesday following its biggest surge in three weeks against major peers overnight
Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth
The US dollar index, a measure of the currency against six major rival pairs, was at 105.67 around 6.15 pm IST on Tuesday. It had climbed to a 20-year high of 108.54 in late July
Sitharaman informed the Rajya Sabha that the RBI is continuously monitoring the local currency and intervening only if there is volatility.
Persistent foreign fund inflows into capital markets, softening crude oil prices and a weak US dollar in the global markets boosted the local currency.
Spot gold was flat around $1,771.29 per ounce by 0843 GMT, after hitting its highest since July 5 at $1,780.39 earlier in the session.
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Asia stocks continued a decline from Wall Street, and US long-term Treasury yields sank to a four-month low, pulling dollar down against the yen
LONDON (Reuters) - The U.S. dollar sank to its lowest in more than six weeks versus the Japanese yen on Monday as investors ramped up bets that aggressive Federal Reserve monetary policy would tip the economy into a recession.
LONDON/SYDNEY (Reuters) - World stocks hit seven-week highs on Monday, buoyed by recent strong corporate earnings and declining expectations for hefty interest rate rises, while the dollar slid against the yen as speculators exited suddenly unprofitable short positions.
The rupee strengthened by 13 paise to 79.11 against the US dollar in opening trade on Monday. Forex traders said the rupee opened stronger as the dollar continued to fall on account of a less aggressive US Fed and falling crude oil prices. At the interbank foreign exchange, the rupee opened at 79.16 against the US dollar and touched 79.11 in initial deals, registering a rise of 13 paise over the last close. In the previous session, the rupee had closed at 79.24 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.14 per cent to 105.75. Global oil benchmark Brent crude futures fell 0.97 per cent to USD 103 per barrel. According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee is likely to trade in the range of 79 to 79.40. "The market awaits the RBI MPC to give its rate signals on August 5," Bhansali said. On the domestic equity market front, the 30-share Sensex was trading 188.86 p
The dollar hung near a three-week low to major peers on Monday as markets continued to wager that the Federal Reserve has less tightening to do with the US economy at risk of recession
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Dollar index falls as a contraction in US GDP eases Fed hike fears
NEW YORK/LONDON (Reuters) - The dollar rebounded from a three-week low in choppy trading on Friday, as a round of U.S. economic data suggested that inflation continued its red-hot rise in June, keeping the Federal Reserve on track to raise interest rates as aggressively as it deems necessary.
The rupee gained 45 paise to close at 79.24 (provisional) against the US dollar on Friday as heavy buying in domestic equities and weakness in the greenback bolstered investor sentiment
As inflation surges across major markets and central bankers fight to raise rates without killing off growth, riskier markets like stocks have tended to react positively to any softening in sentiment