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The Indian rupee was pinned near its all-time low on Monday, averting losses largely on the back of likely central bank intervention, via state-run banks, as hostilities in the Gulf kept oil prices elevated. The rupee closed at 92.42 per dollar, nearly flat on Monday,and in touching distance of its all-time low of 92.4750 hit last week.Brent crude oil futures rose over 1% to $104.5 per barrel, with the situation in the Strait of Hormuz remaining a major focus area for investors. U.S. President Donald Trump’s demands for a coalition to help reopen the key energy artery appeared to have…
Societe Generale economists note that EUR/GBP has slipped below its 200‑DMA and is testing the February low near 0.8610, which may offer interim support. They highlight the risk of a deeper move toward 0.8580 and 0.8535 if this level fails, while the cross is described as technically oversold and overdue a bounce in broader EUR and GBP terms.Testing support as downtrend extends”EUR/GBP recently slipped below its 200‑DMA (now at 0.8690), extending the pullback toward the February low at 0.8610, which may provide interim support. A brief rebound is possible; however, the key focus is whether the pair can reclaim the…
The rupee stayed weak and lost 13 paise to 92.43 against the US dollar in early trade on Monday, weighed down by massive withdrawal of foreign funds and surging crude oil prices amid geopolitical uncertainties.Volatile sentiment in domestic equity markets further dragged the currency down even as the greenback retreated from higher levels, according to forex traders.At the interbank foreign exchange, the local unit opened at 92.44 and stayed close to its lowest-ever intra-day level, trading at 92.43 against the greenback, registering a loss of 13 paise from its previous close.In the preceding session on Friday, the rupee hit its…
EUR/JPY gains ground after two days of losses, trading around 182.60 during the Asian hours on Monday. The currency cross advances as the Euro (EUR) gains support against its peers after The Guardian reported that US Energy Secretary Chris Wright expects the US-Israel conflict with Iran to end within “the next few weeks,” potentially allowing oil supplies to recover and energy prices to ease.However, the EUR/JPY cross’s upside may remain limited as the Euro continues to face pressure from rising oil prices, underscoring Europe’s vulnerability to higher energy costs that could weigh on the region’s trade balance. The recent surge…
US President Donald Trump said on Monday that he is discussing with other countries about policing the Strait of Hormuz, adding that Israel is collaborating with the US on securing the vital shipping route.Key quotesThey want to negotiate badly yet I don’t think they are ready. We are discussing with other countries about policing the Strait of Hormuz. We are targeting drone manufacturing in Iran. Talking to 7 countries regarding Strait of Hormuz.I am demanding that other nations help protect the Strait.Israel is collaborating with the US on securing the Strait of Hormuz.We are talking to Iran yet I do not think they…
South Korea’s presidential office said in a statement on Sunday, “we will communicate closely with the US regarding this matter and make a decision after careful review.”Takayuki Kobayashi, policy chief of Prime Minister Sanae Takaichi’s ruling Liberal Democratic Party (LDP), told public broadcaster NHK, “I regard the threshold as extremely high for sending Japanese navy ships to the region under existing Japanese laws.”US President Donald Trump renewed his calls for allies to help secure the Strait of Hormuz in a post on Truth Social on Saturday.“….the Countries of the World that receive Oil through the Hormuz Strait must take care of that…
The Israel Defense Forces (IDF), the country’s military, said in its social media post on X on Sunday that Iran continued to launch missiles toward the territory of the State of Israel.“Defense systems are operating to intercept the threat,” the IDF added, while warning citizens to enter protective spaces.This comes after Iran’s Revolutionary Guard Corps (IRGC) pledged to target Israeli Prime Minister Benjamin Netanyahu as the war with the US and Israel continues.“We will continue to pursue and kill him with full force,” the Guards said of Netanyahu on Sunday, in a statement on their Sepah News website.Meanwhile, Iran accused “the enemy” of using copycat…
In an interview with NBC News on Saturday, US President Donald Trump commented on the military strikes on the Kharg Island and whether he was prepared to make a deal with Iran while pressing allies once again to help secure the Strait of Hormuz.Key quotesI’m not ready to make a deal with Iran because the terms are not good enough yet.We’ve totally decimated it. Except, as you know, I didn’t do anything having to do with the energy lines, because having to rebuild that would take years.Strikes on Kharg Island totally demolished most of the island, but we may hit…
Indian rupee is expected to remain volatile throughout March as geopolitical tensions and global economic factors continue to exert pressure on the currency, according to a report by Union Bank of India.The report noted that the Indian Rupee (INR) recently touched a historic low of ₹92.48 per dollar on March 13, reflecting the impact of both global and domestic developments on the currency market.According to the report, geopolitical tensions in the Middle East remain a key risk for the rupee’s outlook. The escalating conflict in the region has raised concerns over possible disruptions to global energy supply routes, which has…
The U.S. dollar rose across the board on Friday, set for a second straight weekly gain, as the war in the Middle East drove investors toward safe-haven assets and weighed on energy-sensitive currencies such as the euro. President Donald Trump said the U.S. was going to be hitting Iran “very hard over the next week”, shortly after issuing a partial 30-day waiver for purchases of sanctioned Russian oil, hoping to ease prices fuelled by the U.S.-Israeli war on Iran. A sharp and prolonged rise in oil prices would severely hurt the economies of Japan and the euro zone, which are…