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EUR/GBP trades around 0.8800 on Tuesday at the time of writing, up 0.40% on the day, supported by Pound Sterling (GBP) weakness ahead of Thursday’s Bank of England (BoE) policy meeting. Markets widely expect the BoE to keep its benchmark rate at 4.0%, although one in three investors still anticipates a quarter-point cut following softer inflation data, according to Reuters.UK Chancellor Rachel Reeves warned that “inflation has been too slow to come down”, adding that her upcoming budget will aim to bring it under control. On the Euro (EUR) side, European Central Bank (ECB) President Christine Lagarde is due to…

The AUD/USD pair revisits the 10-day low, slightly below 0.6500, during the European trading session on Tuesday. The Aussie pair is down almost 0.6% from its previous close after the Reserve Bank of Australia’s (RBA) monetary policy announcement, in which it kept its Official Cash Rate (OCR) steady at 3.6%, as expected. 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. USDEURGBPJPYCADAUDNZDCHFUSD0.13%0.52%-0.46%0.14%0.56%0.72%0.09%EUR-0.13%0.38%-0.60%-0.00%0.42%0.58%-0.04%GBP-0.52%-0.38%-0.98%-0.38%0.04%0.20%-0.43%JPY0.46%0.60%0.98%0.61%1.03%1.18%0.55%CAD-0.14%0.00%0.38%-0.61%0.43%0.57%-0.05%AUD-0.56%-0.42%-0.04%-1.03%-0.43%0.16%-0.47%NZD-0.72%-0.58%-0.20%-1.18%-0.57%-0.16%-0.63%CHF-0.09%0.04%0.43%-0.55%0.05%0.47%0.63% The heat map shows percentage changes of major currencies against each other. The base currency is picked from…

The rupee recovered from the record low level and settled with a gain of 11 paise at 88.66 (provisional) against the US dollar on Tuesday boosted by falling crude oil prices overseas. Forex traders said a firm dollar, outflow of foreign funds and subdued domestic equity markets prevented a sharp gain in the Indian currency. At the interbank foreign exchange, the rupee opened at 88.55 and hit the intra-day high of 88.28 against the greenback. The unit also touched a low of 88.67 before ending the session at 88.66 (provisional) against the dollar, up 11 paise from its previous closing…

The rupee recovered from the record low level and settled with a gain of 11 paise at 88.66 (provisional) against the US dollar on Tuesday boosted by falling crude oil prices overseas. Forex traders said a firm dollar, outflow of foreign funds and subdued domestic equity markets prevented a sharp gain in the Indian currency. At the interbank foreign exchange, the rupee opened at 88.55 and hit the intra-day high of 88.28 against the greenback. The unit also touched a low of 88.67 before ending the session at 88.66 (provisional) against the dollar, up 11 paise from its previous closing…

Swiss National Bank’s (SNB) governing board member Petra Tschudin said on Tuesday that there is no need for monetary policy adjustments as inflation is unlikely to fall further.Additional commentsOur interest rates are where they should be.We will only use negative interest rates when necessary.We are keeping interest rates low, so that inflation remains in range of price stability (target range 0-2%).Whether the Franc is correctly valued, overvalued or not is not decisive for our monetary policy.What is important is how the exchange rate changes and its effect on inflation.We are not in situation where we would like to see lower…

The Indian rupee rebounded on Tuesday, likely aided by early intervention from the central bank, a move echoing the Reserve Bank of India’s firm action in October that helped lift the currency from near record lows.The rupee, which had hovered near its record low of 88.80 for three straight sessions, jumped to 88.42 on Tuesday, up 0.4 per cent, after the Reserve Bank of India likely intervened in the non-deliverable forwards and spot markets, traders said. The currency was last quoted at 88.5850.The central bank stepped in before the local spot market opened and the thin market liquidity amplified the…

The rupee rebounded from record low level and gained 21 paise to 88.56 against the US dollar in early trade on Tuesday on the back of lower crude oil prices overseas. The Indian currency, however, remained under pressure due to a strong dollar and outflow of foreign fund from capital market, forex traders said. At the interbank foreign exchange, the rupee opened at 88.55 and then traded at 88.56 against the greenback in early deals, sharply higher by 21 paise from its previous closing level.On Monday, the domestic unit, declining for the third consecutive session, ended 7 paise lower at…

West Texas Intermediate (WTI) Oil price remains subdued for the second successive day, trading around $60.70 per barrel during the Asian hours on Tuesday. The prices of Oil lose ground, which could be attributed to the market caution surrounding the US Federal Reserve (Fed) policy outlook for the December meeting.Fed Chair Jerome Powell said last week during the post-meeting press conference that another rate cut in December is far from certain. Powell also cautioned that policymakers may need to take a wait-and-see approach until official data reporting resumes. Fed funds futures traders are now pricing in a 65% chance of…

Gold price (XAU/USD) declines to around $4,000 during the early Asian session on Tuesday. The precious metal edges lower as traders dialed back bets for further Federal Reserve (Fed) rate cuts. The Fed’s Michelle Bowman is scheduled to speak later in the day. The US central bank last week cut interest rates for the second time this year, but Fed Chair Jerome Powell said another cut this year was “not a foregone conclusion.” The hawkish remarks from the Fed officials drag the yellow metal lower. The US central bank lowered its benchmark overnight borrowing rate at its October meeting last week to a…

Gold (XAU/USD) kicks off the week on a cautious footing, oscillating within its established $3,900-$4,050 range as traders weigh an evolving macroeconomic backdrop. At the time of writing, XAU/USD is trading around $4,010 after briefly slipping to $3,962 earlier in the Asian session.Gold struggles to attract follow-through buying as the US Dollar (USD) remains broadly supported by the Federal Reserve’s (Fed) hawkish tilt. The central bank lowered interest rates by 25-basis-points (bps) at last week’s Federal Open Market Committee (FOMC) meeting but signaled that further easing this year is unlikely. This stance has lifted the Greenback across the board, with…