Asia-Pacific bond yields followed US Treasury yields higher on Wednesday and the dollar continued its climb after Federal Reserve officials signalled they are nowhere near done raising interest rate
The US dollar remained elevated on Wednesday following its biggest surge in three weeks against major peers overnight
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
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.
After frontline indices rallied 9 per cent each in the last one month, analysts believe that the strong foreign inflows after nine months of relentless selling brought upswing to the markets.
Parliament likely to discuss the matter today; MPC to consider matter at 3-day meet that begins on Wednesday
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
At over 8.5%, equity markets clocked their highest monthly gain since August 2021. As investors remain cautious ahead of the RBI's monetary policy, find out how the markets are placed for the week
What led to such record outflows? "Rising global central banks' rates, rupee depreciation, expensive valuations and geopolitical risks," says BofA in a note.
Dollar index falls as a contraction in US GDP eases Fed hike fears
As the cryptocurrency market cap crossed $1.1 trillion mark on Friday and Bitcoin rose above $24,000, experts said that 'we are not there yet'
Gold and silver have always remained some of the precious assets to safeguard against inflation
The Indian rupee strengthened to its highest in nearly three weeks on Friday, tracking broad losses in the dollar on easing concerns over the need for continued aggressive Fed rate hikes
Powell cannot afford to take his eyes off the prize - to get inflation down
Markets perceive Fed as being less hawkish
MPC will be guided more by domestic inflation-growth dynamics than US central bank measures, they say
Four-fifths of the Sensex constituents ended with gains. Bajaj Finance rose 10.7 per cent and was the best-performing index stock
The second straight quarterly decline in GDP meets the standard definition of a recession. It comes as the Fed aggressively hikes rates in an attempt to choke off soaring inflation.
MUMBAI (Reuters) -The Indian rupee saw its biggest single-day gain in more than two months on Thursday, tracking strength in most other Asian peers and shares, while bond yields inched lower after comments from U.S. Federal Reserve Chair Jerome Powell.