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The Japanese Yen (JPY) is entering Friday’s NA session flat from Thursday’s close, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report. JPY remains unchanged on the day “The overnight range was remarkably tight, with no material reaction to the release of weaker than expected industrial production and retail sales data for July. Tokyo CPI data met expectations, at 2.5% y/y on headline while the narrower (ex-food, energy) CPI printed 3.0% y/y.” “The outlook for relative central bank policy remains a core component of our bullish JPY view, as…

The rupee breached the 88-mark for the first time and closed at an all-time low of 88.19 (provisional) against the US dollar, registering a sharp decline of 61 paise amid heightened Indo-US trade deal tensions.Forex traders said the rupee is under persistent pressure amid the imposition of steep tariffs by the US compounded with persistent foreign fund outflows and month-end dollar demand.Moreover, a negative trend in domestic equities dented market sentiments.At the interbank foreign exchange market, the rupee opened at 87.73 against the US dollar, then lost ground and fell to an intra-day low of 88.33. The domestic unit settled…

The slide reflects mounting concerns among investors about the impact of Washington’s hefty levies on India’s trade and growth outlook. The Indian rupee dropped past the 88-per-dollar mark for the first time on Friday, hitting a record low with markets digesting the implications of additional US tariffs on Indian goods.The slide reflects mounting concerns among investors about the impact of Washington’s hefty levies on the country’s trade and growth outlook.The rupee dropped to 88.24 to the US dollar, breaching its prior lifetime low of 87.95.Washington imposed an additional 25 per cent tariff on Indian goods this week, doubling the total…

The Reserve Bank of India net sold $3.6 billion in June, likely to contain excess depreciation of the Indian rupee. The local currency closed at 85.47 per dollar in June, about 12 paise stronger than its level at the beginning of the month at 85.50/$1.The real effective exchange rate (REER), the weighted average of India’s currency against a basket of six major currencies, remained largely stable at 98.35 in July.A REER of less than 100 implies that the currency is undervalued, thereby enhancing export competitiveness.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not…

The rupee depreciated 18 paise to 87.76 against the US dollar in early trade on Friday, weighed down by persistent foreign fund outflows and month-end dollar demand.Forex traders said the rupee is under persistent pressure as the weakness from Trump tariffs was being countered by a softer US dollar, giving the local currency some much-needed breathing space.At the interbank foreign exchange market, the rupee opened at 87.73 against the US dollar, then fell to 87.76, registering a decline of 18 paise over its previous close.On Thursday, the rupee rose by 11 paise to close at 87.58 against the US dollar.“Market…

The Indian rupee had lost 0.2% on the month in June, underperforming other Asian peers amid a broad dollar downtrend.  The Reserve Bank of India sold a net of $3.66 billion in the spot foreign exchange market in June, data released late on Thursday as part of the central bank’s monthly bulletin showed.The RBI said it purchased $1.16 billion and sold $4.82 billion during the month. In May, the central bank had bought a net of $1.76 billion in the spot market.The Indian rupee had lost 0.2 per cent on the month in June, underperforming other Asian peers amid a…

The Reserve Bank of India sold a net of $3.66 billion in the spot foreign exchange market in June, data released late on Thursday as part of the central bank’s monthly bulletin showed. The RBI said it purchased $1.16 billion and sold $4.82 billion during the month. In May, the central bank had bought a net of $1.76 billion in the spot market. The Indian rupee had lost 0.2% on the month in June, underperforming other Asian peers amid a broad dollar downtrend. The currency moved in a band of 85.3025 to 86.8925 against the dollar during the month.The RBI’s…

The Japanese Yen strengthens, dragging USD/JPY below the 147.00 psychological level.The US Dollar is pressured by concerns over Fed independence and a dovish monetary policy outlook, overshadowing upbeat US GDP and jobs data.Focus shifts to Friday’s July PCE and Japan’s Tokyo CPI, labor and retail figures for fresh direction.The Japanese Yen (JPY) strengthens against the US Dollar (USD) on Thursday, with USD/JPY slipping below the 147.00 mark as the Greenback remains under pressure. Concerns over the Federal Reserve’s (Fed) independence and expectations of a dovish policy shift, reinforced by Chair Jerome Powell’s remarks at the Jackson Hole Symposium, overshadow the…

XAU/USD rallies 0.43% as US Dollar weakens and US yields fall, lifting Gold to $3,413 peak.Solid GDP growth and lower jobless claims highlight US economic resilience, but safe-haven flows dominate.Fed Governor Cook sues Trump over firing attempt, stoking concerns on central bank independence and policy outlook.Gold price rises to a five-week high of $3,413 as traders shrug off solid economic data from the United States (US), which justifies the current stance by the Federal Reserve (Fed) to hold rates unchanged. However, safe-haven demand, driven by threats to the Fed’s independence, underpins Bullion prices.The XAU/USD trades with gains of over 0.43%,…

The Dow Jones struggled to find momentum in either direction on Thursday.Nvidia posted strong revenue figures, but a lack of China chip sales stunted AI bidders.A fresh round of US PCE inflation, due on Friday, is keeping investors at bay.The Dow Jones Industrial Average (DJIA) ground to a halt on Thursday, stuck near the 45,500 region as investors await the latest batch of United States (US) Personal Consumption Expenditures Price Index (PCE) inflation data, due on Friday. The Dow is still holding close to record highs reached last week, but further topside momentum will require further evidence that markets are…