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The Indian currency closes at 86.08, down 48 paise against the previous close of 85.60. | Photo Credit: Baris-Ozer The rupee came under pressure on Friday, posting its biggest single-day fall in more than month to close below 86 to the dollar mark, as crude oil prices spiked in the wake of Israel launching a barrage of attacks on Iran’s nuclear and military facilities. Central bank intervention, however, pulled the rupee up from the intraday low of 86.20 per dollar. The Indian currency closes at 86.08, down 48 paise against the previous close of 85.60. Brent crude oil price spiked…

Gold prices remain firm as markets focus on Israel’s attacks on Iran. XAU/USD continues to climb, with prices holding firm above $3,400 while US equities and risk assets plunge.Michigan consumer sentiment and expectations beat estimates, with inflation expectations falling. But ‘risk-off’ tone remains.Gold (XAU/USD) is extending its gains as Israel’s attacks on Iran continue, supporting demand for the safe-haven precious metal.At the time of writing, Gold is trading near $3,430, with a surge in bullish momentum potentially opening the door for a retest of the $3,500 record high in the near term.The attacks by Israel on Iran’s nuclear facilities have resulted…

United States (US) President Donald Trump told the Wall Street Journal that the US was aware of Israel’s plans to attack Iran. Trump further noted that he spoke with Israeli Prime Minister Benjamin Netanyahu on Thursday and added that he plans to speak with again on Friday.”Attack would be great for the market because Iran will not have a nuclear weapon,” he said, per Reuters.President Trump took to his social media platform earlier in the day, Truth Social, to say that ”Iran must make a deal before there is nothing left.”His post read:I gave Iran chance after chance to make…

Consumer Sentiment in the US is expected to remain subdued, according to the University of Michigan survey.The main focus will be on whether five-year inflation expectations continue to fall after declining in May for the first time since December 2024.The US Dollar Index may extend its slide to fresh multi-year lows. The United States (US) will see the release of the preliminary estimate of the June University of Michigan’s (UoM) Consumer Sentiment Index on Friday. The report is a monthly survey conducted by the University that gathers information on consumer expectations for the economy. Two weeks after the release of…

The rupee plummeted 55 paise to 86.07 (provisional) against the US dollar on Friday due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East following Israel’s attack on Iran’s nuclear sites. Brent crude, the global oil benchmark, rose sharply by 7.27 per cent to $74.40 per barrel in futures trade. At the interbank foreign exchange, the rupee opened at 86.25 against the greenback and traded in the range of 85.92-86.25 before closing at 86.07 (provisional), up 55 paise from its previous close. The local unit had settled at 85.52 on Thursday.…

The RBI sold dollars near 86.05, a currency trader said, citing two state-run banks. | Photo Credit: FRANCIS MASCARENHAS The Reserve Bank of India (RBI) is believed to have sold dollars to support the rupee after a surge in oil prices, triggered by Israeli strikes on Iran, put pressure on the currency, three traders told Reuters on Friday.The Indian rupee dropped to 86.20 to the US dollar before recovering to 86.04 on the back of the RBI’s intervention.The RBI sold dollars near 86.05, a currency trader said, citing two state-run banks.Published on June 13, 2025 Source

The Aussie Dollar is trimming losses after a sharp decline on risk-aversion.Israel’s attack on Iran has boosted the US Dollar and other safe assets.The pair is struggling to return above a previous support zone at 0.6500. The Australian Dollar is trimming some losses following a sharp decline earlier today as news that Israel bombed Iranian nuclear and military sites triggered a rush for safety, sending risk-sensitive assets, like the AUD, tumbling.The AUD/USD depreciated nearly 1% during Friday’s early trading to hit one-week lows right above 0.6450. The pair is attempting to regain lost ground during the European trading session, yet…

A weak opening in domestic equity markets and heavy FII outflows further contributed to the fall in the local unit, forex traders said. Rupee declined 56 paise to 86.08 against the US dollar in early trade on Friday due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East following a fresh Israel attack on Iran’s nuclear sites.A weak opening in domestic equity markets and heavy FII outflows further contributed to the fall in the local unit, forex traders said.At the interbank foreign exchange, the local unit opened at 86.25 against the…

The Japanese Yen attracts some intraday sellers, though the downside seems limited. Rising geopolitical tensions and trade uncertainties should benefit the safe-haven JPY.The divergent BoJ-Fed policy expectations could contribute to capping the USD/JPY.The Japanese Yen (JPY) retreats sharply from over a one-week low touched against the rebounding US Dollar (USD) during the Asian session on Friday. Any meaningful JPY depreciation, however, seems elusive in the wake of rising geopolitical tensions in the Middle East, which, along with persistent trade-related uncertainties, might continue to act as a tailwind for traditional safe-haven assets.Furthermore, the growing acceptance that the Bank of Japan (BoJ)…

Israeli Minister of Defense Israel Katz declares a special state of emergency in the country throughout the entire state of Israel, per Axios. Following Israel’s preemptive attack on Iran, the Israeli Defense Minister warned that a missile and drone attack on Israel and its civilian population will occur soon.Market reactionAt the time of writing, the Gold price (XAU/USD) is trading 0.72% higher on the day to trade at $3,410. Risk sentiment FAQs In the world of financial jargon the two widely used terms “risk-on” and “risk off” refer to the level of risk that investors are willing to stomach during the period…