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The Indian rupee ended lower on Thursday after a choppy session as fresh, surprise intervention by the Reserve Bank of India was outweighed by tariff worries and equity outflows.The currency, which opened at 89.95 rebounded to 89.75 after RBI intervened for a second straight day, bankers said. It finally ended at 90.0175 after closing at 89.88 on Wednesday.”Market moves have again started to be dominated by one large player, and the currency changes direction based on the presence or absence of RBI,” a trader with a foreign bank said.Earlier in the day, bankers had said they doubted the sustainability of…
The Indian Rupee (INR) trades lower against the US Dollar (USD) during Indian trading hours on Thursday, after a decent upside move the previous day. The USD/INR pair jumps to near 90.30 as the Indian Rupee struggles to regain ground despite the Reserve Bank of India’s (RBI) intervention on Wednesday.Traders stated on Wednesday that the RBI sold US Dollars aggressively for the first time this year, resembling similar action seen multiple times in 2025 to counter one-way excessive moves.The Indian Rupee struggles to capitalize on RBI-led support, as Indian importers find the USD/INR correction attractive to build fresh positions, according…
The rupee fell 3 paise to 89.90 against the US dollar in early trade on Thursday weighed down by a rise in global crude oil prices and FII outflows. A strengthening dollar and weaker sentiments in the domestic equity markets put additional pressure on the rupee, forex traders said. At the interbank foreign exchange, the rupee opened at 89.96 against the US dollar and later rose to 89.90, lower by 3 paise from its previous close.The rupee rose 31 paise to close at 89.87 against the US dollar on Wednesday on possible intervention by the Reserve Bank of India (RBI)…
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after two days of gains and hovering around 98.70 during the Asian hours on Thursday. The Greenback remains steady as recent data point to a fragile US economic backdrop ahead of Friday’s crucial jobs report, tempering market sentiment.Traders will keep an eye on the US Initial Jobless Claims data later in the North American session. Attention will be shifted toward Friday’s US Nonfarm Payrolls (NFP) report, which is expected to show job gains of 55,000 in December, down from…
The USD/JPY pair posts modest gains around 156.70 during the early Asian session on Thursday. The Japanese Yen (JPY) softens against the US Dollar (USD) as demand for safe-haven assets cools after geopolitical tensions. Traders will keep an eye on the US Initial Jobless Claims data later on Thursday. On Friday, the US December employment report will be in the spotlight. The shocking capture of Venezuelan President Nicolas Maduro by the United States (US) over the weekend had a short-lived impact on most asset classes, particularly in currencies. Furthermore, the US Services Purchasing Managers’ Index (PMI) hit a 14-month high in December,…
The Euro trades little changed against the US Dollar on Wednesday, as traders show a muted reaction to a mixed batch of US economic data. At the time of writing, EUR/USD is trading around 1.1691, consolidating after losing around 0.3% on Tuesday.The Institute for Supply Management (ISM) reported that the US Services PMI rose to 54.4 in December, beating market expectations of 52.3 and improving from 52.6 in November. The report pointed to improving momentum in the US services sector, with business activity ending 2025 on its strongest footing of the year and remaining in expansion territory for a tenth…
EUR/USD is practically flat, trading near 1.1690 at the time of writing, with the bearish bias from December highs intact. Eurozone inflation figures confirmed that price pressures remain weak, which left the pair trading sideways near three-week lows, with investors awaiting the release of key US employment figures.Data released by Eurostat on Wednesday revealed that the Eurozone Harmonized Index of Consumer Prices (HICP) eased to a 2.0% yearly rate in December, as expected, from 2.1% in November. Likewise, the core HICP slowed down to a 2.3% year-on-year growth, from 2.4% in November, in this case beating expectations of a steady…
Sterling held near its highest level in over three months against the euro and dollar on Wednesday, as steadying risk appetite left European stocks little changed following a three-day rally that pushed them to record highs.The pound often correlates positively with global equity markets and other risk-sensitive assets, as the UK economy is open and heavily reliant on global trade and financial flows.However, this relationship can weaken during UK-specific developments.Some analysts recently flagged that the British currency had now recovered all the losses incurred in the run-up to last year’s budget, benefiting from the reduction in UK fiscal and political…
The Indian rupee ended higher for second consecutive session on Wednesday on likely dollar sales from state-run banks, which traders said could be on behalf of the central bank, helping reverse the pressure from slightly softer Asian cues.The rupee ended 0.3% higher at 89.88, its highest closing level in a week, after closing at 90.1650 in the previous session. It hit an intraday high of 89.86.The Reserve Bank of India resorted to heavy intervention to support the rupee once again, nine traders said, and that pushed the currency past the 90-per-dollar mark.Wednesday’s intervention followed a familiar playbook that the RBI…
The rupee snapped its four-day losing streak to appreciate 12 paise to settle at 90.18 against the American currency on Tuesday. The rupee rose 31 paise to close at 89.87 (provisional) against the US dollar on Wednesday on possible intervention by the Reserve Bank of India (RBI) and a fall in global crude oil prices.At the interbank foreign exchange, the rupee opened at 90.20 against the US dollar and traded in the range of 89.75-90.23 before settling at 89.87 (provisional), up 31 paise from its previous close.The rupee snapped its four-day losing streak to appreciate 12 paise to settle at…