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The House of Representatives was approaching a final vote late Wednesday on legislation to end the longest government shutdown in US history, the Wall Street Journal reported on Thursday.The bill, which passed the Senate on Monday, has sizable momentum, and its approval by the House would clear it for US President Donald Trump’s signature. Market reactionAt the time of writing, the US Dollar Index (DXY) is up 0.05% on the day at 99.50. US Dollar FAQs The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found…

The Euro (EUR) edges higher against the US Dollar (USD) on Wednesday, reversing earlier losses as the Greenback’s rebound loses steam ahead of a critical congressional vote to end the record-long US government shutdown. At the time of writing, EUR/USD is trading around 1.1589, extending its winning streak for the sixth consecutive day after bouncing off an intraday low near 1.1594.The US House of Representatives is set to vote later on Wednesday on a bill to reopen the government and restore federal operations. House Majority Leader Steve Scalise told CNBC the vote is expected around 7 p.m. ET, following Monday’s…

Gold (XAU/USD) trades little changed on Wednesday, consolidating gains near a three-week high as investors adopt a wait-and-see approach ahead of a crucial US congressional vote to end the record-long government shutdown. At the time of writing, XAU/USD is trading around $4,130, with market participants staying on the sidelines amid subdued risk appetite.The US House of Representatives is set to vote later on Wednesday on a stopgap funding bill aimed at reopening the government and ending the record-long shutdown. The proposal would keep most federal agencies funded through January 30, 2026, while extending funding for some departments until September 30,…

The Indian rupee slipped on Wednesday, weighed down by dollar demand from local companies alongside modest declines in regional peers, while expectations of central bank intervention on the path to its all-time low capped losses.The rupee closed at 88.63 against the U.S. dollar, down slightly from 88.5675 in the previous session.Continuous dollar demand from local importers, including oil companies, has exerted pressure on the local currency over the last few weeks, traders said.Months of uncertainty over a U.S.-India trade deal have also distorted India’s FX hedging landscape, as expectations that the rupee may weaken further amplified importer hedging and kept…

 At the interbank foreign exchange, the rupee opened at 88.61 against the US dollar and touched an intra-day high of 88.56 and a low of 88.66 during the day. | Photo Credit: istock.com The rupee depreciated 16 paise to close at 88.66 (provisional) against the US dollar on Wednesday, weighed down by the strength of the American currency in the overseas market and elevated crude oil prices. Forex traders said the rupee traded within a range as renewed optimism over the India-US trade deal and rising hopes that the government shutdown could end soon supported the domestic unit at lower…

EUR/JPY continues its winning streak for the fourth successive session, trading around 179.10 during the European hours on Wednesday. The currency cross is testing resistance within a bearish pattern, trading near the upper boundary of an ascending wedge pattern. A potential reversal could occur if the price fails to break out convincingly and instead turns lower.The 14-day Relative Strength Index (RSI) is climbing toward the 70 mark, reinforcing the bullish bias. However, a move above 70 would signal overbought conditions and raise the likelihood of a near-term downward correction. The EUR/JPY cross suggests a stronger short-term momentum, trading above the…

For nearly three months, the U.S. dollar seemed to be caught in a long, drawn-out test match — plenty of defence, no boundaries, and a lot of waiting for the right ball to hit. Hovering around the 97–98 levels, it looked tired, weighed down by Donald Trump’s tariff theatrics and political squabbles in Washington. The pitch wasn’t easy — uncertainty kept investors on their toes, and the Fed’s rate cuts only added to the confusion.But just when it looked like the dollar was running out of breath, it found its rhythm again. Now trading near the 100 mark, the currency…

Rupee has seen a V-shaped kind of a move in the last month or so. There was tremendous dollar buying around 88.80, and the RBI seemed committed to defending that level.RBI perhaps got a sense of the extent to which interbank was looking to position long when a major IPO-related outflow went through. Until then, the RBI was merely supplying dollars to ensure that 88.80 did not break.Seeing the market’s skewed positioning, the RBI may have decided to whack down USDINR to crush the speculative longs. On a day when there was positive news overnight regarding the India-US trade deal…

The Indian rupee was little changed on Wednesday, wedged between persistent importer dollar bids and the positive cue from an uptick in wagers on a rate cut by the U.S. Federal Reserve next month, that also boosted dollar-rupee forward premiums. The rupee was at 88.60 against the U.S. dollar as of 11:30 a.m. IST, down marginally from its close at 88.5675 in the previous session Weakness in U.S. private payrolls data for October released on Tuesday prompted traders to add to wagers that the Fed will deliver a 25 basis point rate cut next month, driving down near-tenor U.S. Treasury…

Highlights Importer hedging up over 30% on average in 2025, outpacing 11% rise in exporter activity Exporters face uncertainty in US shipment volumes and payment timing RBI has been intervening routinely to support rupee over last two months Months of uncertainty over a US-India trade deal have distorted India’s FX hedging landscape as expectations that the rupee may weaken further have amplified importer hedging while exporters hesitate, leaving the central bank to shoulder the resulting pressure on the currency.Hefty US tariffs on Indian goods went into effect in August and despite multiple rounds of talks, a deal has proven elusive.…