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The Japanese Yen (JPY) remains on the back foot through the early European session on Friday, though it lacks bearish conviction amid hawkish Bank of Japan (BoJ) expectations. Traders have been pricing in the possibility that the BoJ will hike interest rates as early as next week. This marks a significant divergence in comparison to bets for more rate cuts by the US Federal Reserve (Fed), which keeps the US Dollar (USD) depressed near a two-month low and acts as a tailwind for the lower-yielding JPY.Meanwhile, Prime Minister Sanae Takaichi’s massive spending plan has exacerbated concerns about Japan’s public finances…

The Indian rupee hit a record low on Friday, as sentiment remained bogged down by the absence of a trade deal with the U.S. and portfolio outflows, drawing likely intervention by the Reserve Bank of India to curb the fall.The rupee weakened to 90.55 against the U.S. dollar, slipping past its previous all-time low of 90.4675 hit on December 11. The currency was last at 90.4650, down 0.1% on the day.The rupee is Asia’s worst performer this year. The currency has fallen nearly 6% against the dollar year-to-date, as steep US tariffs of up to 50% on Indian goods hurt…

Silver price (XAG/USD) climbs to near $63.75 and is poised to retest its all-time high during the Asian trading hours on Friday. The white metal extends the rally on rising industrial demand, a weaker US Dollar (USD), and the metal’s entry into the US critical minerals list.The upside for Silver is bolstered by rising industrial demand from vital technology sectors. Saxo Bank analysts noted that sectors such as solar energy (PV), automotive electric vehicles (EVs) and their infrastructure, and data centers and artificial intelligence (AI) will drive industrial demand higher through 2030.The US Department of the Interior has added silver to…

GBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve (Fed) delivered a third straight interest rate cut this week, bolstering broad-market risk appetite and pushing the US Dollar (USD) into the low side across the board.Fed Chair Jerome Powell cautioned following the Fed’s latest interest rate trim that further moves on rates are less than likely heading into 2026, and the majority of Fed policymakers see barely two more interest rate cuts over the next two…

Sterling rallies during the North American session, up over 0.68% after the Federal Reserve delivered as expected a 25-basis points rate cut and a softer than expected jobs report, weighed on the Dollar. At the time of writing, the GBP/USD trades at 1.3417 after bouncing off daily lows of 1.3354.Pound rallies after the Fed delivers a widely expected rate cut, soft US labor data deepens bets on further easingUS Initial Jobless Claims for the week ending December 6 increased by 236K up from the previous week upward revised figures to 192K, revealed the Department of Labor. Continuing Claims for the…

The Pound Sterling (GBP) trades close to a fresh seven-week high around 1.3400 against the US Dollar (USD) on Thursday. The GBP/USD pair trades firmly as the US Dollar struggles to gain ground following the Federal Reserve’s (Fed) rate cut on Wednesday.The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades vulnerably near a seven-week low of 98.54 posted earlier in the day.On Wednesday, the Fed lowered the Federal Fund Rate by 25 basis points (bps) to 3.50%-3.75%, as expected, and the dot plot signaled that there will be one interest rate cut in 2026.The…

The rupee plunged 54 paise to an all-time low of 90.48 against the US dollar in intra-day trade on Thursday after reports surfaced that the India-US trade deal is likely by March 2026.Forex traders said the rupee fell to a new all-time low of 90.48 after Chief Economic Advisor V Anantha Nageswaran reportedly said the India-US trade deal is likely to be inked by March.Moreover, prevailing risk-averse market sentiment, compounded by strong US dollar demand from importers, dented investor sentiment.At the interbank foreign exchange, the rupee opened at 89.95 against the US dollar, then lost ground and fell to a…

 At the interbank foreign exchange, the rupee opened at 89.95 against the US dollar, then lost ground and fell to a record intra-day low of 90.48, registering a 54-paise decline from its previous close. | Photo Credit: istock.com The rupee plunged 39 paise to close at an all-time low of 90.33 (provisional) against the US dollar on Thursday amid uncertainty over the India-US trade deal. Forex traders said the rupee is expected to trade with a negative bias as the delay in the trade deal between India and the US may continue to dent investor confidence. Moreover, prevailing risk-averse market…

The Indian rupee slipped to a record low on Thursday, deepening its slide past the 90 per dollar mark as the absence of a trade deal with the U.S. continued to weigh and corporate dollar outflows added to the pressure.The rupee weakened to 90.4675 against the U.S. dollar, eclipsing its previous all-time low of 90.42 hit on December 4.On Thursday, the central bank likely intervened to help the rupee avert steeper losses, five traders told Reuters.One of the traders characterised the central bank’s intervention as mild and likely intend to slow the rupee’s fall instead of holding it at a…

Investors watching the rupee weaken past 90 to the dollar have a new marker to assess: Goldman Sachs believes the currency’s worst phase of underperformance is largely behind it, even as India’s external balances remain under strain and tariff uncertainty clouds the outlook. The brokerage argued that while flows have deteriorated meaningfully, India’s underlying external metrics still compare favourably with past stress episodes, offering a more tempered reading of the rupee’s slide than market sentiment suggests.Goldman Sachs attributed the rupee’s slide, including last week’s breach of 90 and its roughly 5% year-to-date depreciation, to weakening balance-of-payments dynamics and “reduced RBI…