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Rupee declined 10 paise to 94.86 against the US dollar in early trade on Wednesday as the greenback continued to gain in strength.However, sharp decline in global crude oil prices and FII inflows supported the local unit to prevent a sharper decline, forex traders said.At the interbank foreign exchange, the rupee opened at 94.88 before rising marginally to 94.86, down 10 paise from its previous close.The rupee declined 13 paise to close at 94.76 against the US dollar on Tuesday.”The rupee opened weaker against the dollar, extending its third straight session of pressure as the greenback stayed broadly firm. Early…

Gold (XAU/USD) drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday. Despite easing inflationary concerns in the face of the recent fall in Crude Oil prices, traders have been pricing in a greater chance of a rate hike by the US Federal Reserve (Fed). This, in turn, pushes the US Dollar (USD) to a fresh high since May 2025 and turns out to be a key factor that continues to drive flows away from…

The U.S. dollar extended gains to reach a fresh 13-month high against a basket of ‌major currencies on Wednesday as investors sought shelter from a tech stock ​sell-off and positioned for Fed rate hikes. A broad sell-off in ⁠technology and semiconductor shares has dragged global stocks lower as investors take profits on a long rally, sparking safe-haven demand for dollar and bonds. Meanwhile, expectations of a U.S. rate hike continued ‌to build with Federal Reserve officials sounding increasingly hawkish amid the strength of the U.S. economy. Markets are pricing in a 37% chance of a ‌25-basis-point hike at the July…

The Australian Bureau of Statistics (ABS) will publish the high-impact Consumer Price Index (CPI) for May on Wednesday at 01:30 GMT.Heading into the inflation test, the Australian Dollar (AUD) is at its lowest level in two months against the US Dollar (USD), having surrendered the 0.7000 psychological mark.What to expect from Australia’s inflation rate data?Australia’s annual CPI is expected to rise by 4.4% in May after increasing by 4.2% in April, inching close to the near three-year high of 4.6% seen in March. The monthly CPI is seen declining by 0.3% in the same period, following a 0.4% growth reported…

The Pound Sterling (GBP) dives over 0.40% on Tuesday as risk appetite shifts sour, as the recently sworn-in MP Andy Burnham prepares to succeed Prime Minister Keir Starmer, who lasted two years at the job. At the time of writing, GBP/USD trades at 1.3195, after reaching a daily high of 1.3257.GBP/USD drops as UK political risk meets US exceptionalismThe US Dollar (USD) continued to edge higher throughout the day, hitting a new yearly high in the US Dollar Index (DXY). The DXY, which measures the performance of the buck’s value against a basket of six currencies, is up 0.34% at…

The Australian Dollar (AUD) underperforms its currency peers, trading 0.8% lower at around 0.6945 against the US Dollar (USD) during the European session on Tuesday. The antipodean faces intense selling pressure as market sentiment turns risk-averse due to expectations that the Federal Reserve (Fed) will deliver at least two interest rate hikes this year. Australian Dollar Price Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the Japanese Yen. USDEURGBPJPYCADAUDNZDCHFUSD0.31%0.29%-0.02%0.20%0.87%0.54%0.14%EUR-0.31%-0.04%-0.33%-0.13%0.52%0.22%-0.18%GBP-0.29%0.04%-0.28%-0.07%0.58%0.26%-0.13%JPY0.02%0.33%0.28%0.21%0.88%0.55%0.14%CAD-0.20%0.13%0.07%-0.21%0.68%0.35%-0.06%AUD-0.87%-0.52%-0.58%-0.88%-0.68%-0.30%-0.69%NZD-0.54%-0.22%-0.26%-0.55%-0.35%0.30%-0.42%CHF-0.14%0.18%0.13%-0.14%0.06%0.69%0.42% The heat map shows percentage changes of major currencies against each other. The base currency is…

The rupee declined 11 paise to close at 94.74 (provisional) against the US dollar on Tuesday weighed down by a firm greenback and weak domestic markets.However, a decline in global crude oil prices cushioned against a sharper decline in the local unit, forex traders said.At the interbank foreign exchange, the rupee opened at 94.73 against the US dollar and traded in a range of 94.63-94.92 before settling at 94.74 (provisional), down 11 paise from its previous close.The rupee depreciated 30 paise to close at 94.63 against the US dollar on Monday.”The rupee declined on firm US dollar and weak domestic…

The Indian rupee ended modestly weaker on Tuesday as a churn in U.S. rate expectations boosted the dollar to a one-year peak against a basket of peers, driving global equities lower and pressuring Asian currencies.The rupee closed at 94.7350 per dollar, down 0.1% from its close at 94.6775 in the previous ‌session.Indian stocks fell ⁠1.1%, tracking ⁠a more than 3% slide in MSCI’s gauge of Asian shares, as rising bets on Federal Reserve rate hikes this year dented equities from Tokyo to New York.The ​dollar index rose to 101.18, its highest level since May 25, weighing on regional currencies, which…

DBS Group Research economist Philip Wee argues that Sir Keir Starmer’s resignation and the upcoming Labour Party leadership contest should not trigger a repeat of the 2022 UK mini-budget crisis for the British Pound. The report stresses key differences in fiscal approach versus Liz Truss’s unfunded tax cuts and suggests GBP/USD can remain within an established trading range.Labour leadership risks for Pound seen limited”Sir Keir Starmer announced his resignation as British Prime Minister and leader of the Labour Party on June 22.””If front-runner Andy Burnham becomes prime minister, he would steer the Labour Party from Starmer’s political centre towards left-leaning…

The rupee fell 6 paise to 94.69 against the US dollar in early trade on Tuesday as the greenback strengthened further to hover around its 13-month high.FII outflows and a weaker start to morning trade at the domestic equity markets put further pressure on the rupee, while a decline in crude oil prices cushioned against a steeper decline, forex traders said.At the interbank foreign exchange, the rupee opened at 94.73 against the US dollar before rising to 94.69, down 6 paise from its previous close.The rupee depreciated 30 paise to close at 94.63 against the US dollar on Monday.”The rupee…