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The U.S. dollar held firm against most major currencies on Thursday as renewed Gulf tensions revived safe-haven bids while surging oil prices boosted rate hike bets, keeping the Japanese yen under pressure. The dollar fetched 162.41 yen, hovering near the strongest level since July 1. The euro and the British pound were largely flat and traded at $1.1426 and $1.3392, respectively. The New Zealand dollar remained well bid after the previous day’s rate hike and the central bank’s hawkish stance, extending its gains by 0.5% to $0.5725. The Australian dollar added 0.1% at $0.6936.The U.S. dollar index, which measures the…
Gold price (XAU/USD) declines to around $4,075 during the early Asian session on Thursday. The precious metal extends its downside as US President Donald Trump said the ceasefire with Iran has ended, stoking concerns that a renewal of war could again drive inflation and push up interest rates.Reuters reported on Thursday that Trump stated that an interim agreement aimed at ending the conflict with Iran was “over.” Additionally, US President threatened to bomb Iran for a second day and reimpose the US naval blockade in retaliation for attacks on tankers transiting the Strait of Hormuz.”The main factor for today’s move…
currency converter concept colored arrow with icons. istock photo for BL | Photo Credit: anoopkrishnan The rupee on Wednesday felt the ripple effect of hardening crude oil prices, which jumped on US President Donald Trump’s comments that the “ceasefire with Iran is over”, the US launching strikes on Iran and the latter attacking a tanker from Qatar near the Strait of Hormuz. Government security (G-Sec) yields also spiked in response to the jump in crude oil prices.India imports almost 90 per cent of its crude oil requirements. Any increase in crude oil prices has a direct impact on import bill,…
The Pound Sterling (GBP) posts modest gains during the North American session on Wednesday amid growing tensions in the Middle East, as US President Donald Trump’s said the deal with Iran was “over” after both countries exchanged attacks over the last couple of days. At the time of writing, the GBP/USD pair trades at 1.3371, up 0.09%.GBP/USD steadies as geopolitical risk offsets Dollar strengthDuring the last couple of days, Tehran and Washington exchanged blows after Iran hit two vessels sailing through the Strait of Hormuz, triggering a response from the US. The US CENTCOM reported that it attacked 80 targets…
BNY’s Geoff Yu highlights growing fragility in global markets as President Trump declares the Iran ceasefire over and U.S. strikes in the Strait of Hormuz reignite Oil volatility. Brent, WTI and Middle Eastern benchmarks have jumped around 5%, yet inflation expectations remain intact and positioning data show core energy and inflation hedges in place, limiting broader disruption for now.Ceasefire doubts lift crude benchmarks”Markets are starting to look fragile. President Trump is now openly questioning the durability of the ceasefire, while exchanges of fire in the Strait of Hormuz are intensifying. For markets and the global economy, the prospect of a…
The Indian rupee dropped to its weakest level in nearly a month on Wednesday after U.S. President Donald Trump said the interim accord with Iran to end the war was “over,” sending oil prices soaring and hurting Asian currencies.Traders said the Reserve Bank of India had likely intervened in the foreign exchange market to limit the rupee’s fall via dollar sales from state-run banks.The currency closed at 95.5550 per dollar, down 0.6% on the day. It had touched a low of 95.60, its weakest since June 11.Oil prices jumped about 6% on Wednesday, hitting a two-week high after U.S. President…
Tatha Ghose at Commerzbank expects Poland’s NBP to leave rates at 3.75%, with forwards already reflecting this. With inflation momentum near zero and energy-driven disinflation back, earlier hike bets have been unwound and some analysts now discuss potential easing from Q4 or March 2027. Commerzbank sees this shift eroding PLN’s carry and supporting underperformance versus CZK.Rate-hike narrative replaced by easing talk”Headline CPI slowed to 2.5%y/y in June, weaker than consensus; more importantly, the month-on-month price change turned negative and, after seasonal-adjustment and smoothing, worked out to near-zero. In other words, the recent oil shock did not generate a lasting impulse;…
The rupee slipped 20 paise to 95.16 against the greenback in early trade on Wednesday as the US launched fresh strikes on Iran after Tehran struck three ships in the Strait of Hormuz, pushing up crude oil prices and strengthening the dollar.A weaker opening in the domestic equity markets further pressured the local unit, according to forex traders.At the interbank foreign exchange market, the rupee opened at 95.15 against the US dollar before slipping further to 95.16, down 20 paise from its previous close.On Tuesday, the rupee appreciated 47 paise to close at 94.96 against the US dollar.”The rupee opened…
The Australian Dollar (AUD) trades 0.23% higher to near 0.6943 against the US Dollar (USD) during the Asian trading session on Wednesday. The Aussie pair gains as the Australian Dollar outperforms its major currency peers, except the New Zealand Dollar (NZD), with the Reserve Bank of Australia (RBA) keeping the door open for further monetary policy tightening, if needed, to bring inflation back to the central bank’s target. Australian Dollar Price Today The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the Japanese Yen. USDEURGBPJPYCADAUDNZDCHFUSD-0.03%0.03%0.15%-0.02%-0.21%-0.50%0.03%EUR0.03%0.05%0.17%-0.00%-0.18%-0.49%0.05%GBP-0.03%-0.05%0.13%-0.03%-0.25%-0.52%-0.03%JPY-0.15%-0.17%-0.13%-0.18%-0.34%-0.65%-0.15%CAD0.02%0.00%0.03%0.18%-0.18%-0.48%0.02%AUD0.21%0.18%0.25%0.34%0.18%-0.30%0.18%NZD0.50%0.49%0.52%0.65%0.48%0.30%0.49%CHF-0.03%-0.05%0.03%0.15%-0.02%-0.18%-0.49% The heat…
Since January 2025, the Rupee has depreciated by ~9%. INR was amongst the weakest currencies in Asia during May 2026 when it weakened to 96.96. The currency has faced headwinds over the last ~2 years: expensive equity valuations, India not being in the AI theme, tariff challenges, uncertainty due to the impact of agentic AI on India’s $160 billion software exports, high energy prices due to geopolitical tensions, and tepid net FDI over the past two years.Above all, the narrow interest rate differentials vis-a-vis the US and expectations of INR depreciation have led to greater importer hedging (importer leads) and…