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Iran’s Mehr news agency has reported in the European trade on Friday that the draft with the United States (US) regarding the permanent peace deal needs finalization by relevant authorities. The agency has also reported key terms in the draft, which includes the reopening of the Strait of Hormuz, unfreezing Iran’s funds, and the lifting of the US naval blockade.Additional informationThe MoU with the US includes US commitment to lifting sanctions, withdrawing its forces from around Iran, and lifting the naval blockade.The MoU with the US also includes reopening Strait of Hormuz, cancelling oil sanctions, and releasing Iran’s frozen funds.Final…
The rupee surged 65 paise to 95.20 against the US dollar in early trade on Friday as global crude oil prices retreated after US President Donald Trump indicated an imminent deal with Iran.A weaker greenback and positive sentiment at the domestic equity markets provided further boost to the local unit, according to forex traders.At the interbank foreign exchange, the rupee opened at 95.40 before rising further to 95.20 against the greenback.The rupee had plunged 60 paise to settle at 95.85 against the US dollar on Thursday.”The rupee opened stronger on Friday, fuelled by a sharp retreat in global crude oil…
The USD/JPY pair attracts fresh buyers during the Asian session on Friday and moves away from a one-week low, touched the previous day. Spot prices currently trade around the 160.25-160.30 region, up nearly 0.25% for the day, and remain well within striking distance of the highest level since late April.The US and Iran continue to send mixed and contradictory signals regarding a potential peace deal, keeping a lid on the latest optimism and undermining the Japanese Yen (JPY) amid economic risks stemming from the Middle East conflict. Furthermore, persistent geopolitical uncertainties, along with hawkish US Federal Reserve (Fed) expectations, revive…
The EUR/USD pair gathers strength to around 1.1575 during the early Asian trading hours on Friday. The Euro (EUR) edges higher against the US Dollar (USD) on the European Central Bank (ECB) interest rate hike and improved risk sentiment.As widely expected, the ECB decided to raise the key interest rates for the first time since 2023 as Iran’s war ramps up energy costs, lifting its deposit facility rate from 2.0% to 2.25% following its governing council meeting on Thursday. The ECB also hiked its main refinancing operations rate to 2.40% and its marginal lending facility rate to 2.65%.“The war in…
Commerzbank notes that USD/TWD has risen for five consecutive sessions to 31.68, driven by foreign equity outflows as global tech stocks correct. Taiwan’s exports and imports are surging on AI-related demand, while CPI has moved above the central bank’s 2% target. Even so, the CBC is expected to keep its policy rate unchanged at 2% at the upcoming meeting.Equity outflows and CPI lift USD/TWD”May exports jumped 51.7% yoy (Bloomberg consensus: 41.2%) vs 39.0% in April, marking the fifteenth consecutive month of double-digit growth. Integrated circuit exports surged 58.3% vs 40.5% in April, supported by robust demand for leading-edge chips used…
The European Central Bank (ECB) announced on Thursday that it raised key rates by 25 basis points (bps) following the June policy meeting, as expected. With this decision, the interest rate on the main refinancing operations, the interest rates on the marginal lending facility and the deposit facility stood at 2.4%, 2.65% and 2.25%, respectively.Developing story, please refresh the page for updates.ECB policy statement key takeaways”War in Middle East is generating inflation pressures, and decision to raise rates is robust across a range of scenarios mapping out how shock might evolve and affect medium-term outlook for Euro area.””In baseline of…
The Indian rupee dropped against the US dollar on Thursday, almost wiping out gains from the central bank’s measures to attract dollar inflows, as weak Asian cues and persistent dollar demand from oil firms weighed.The rupee opened lower at 95.52 per U.S. dollar and stayed under pressure since then, with bankers pointing to sustained dollar demand, particularly from oil companies, alongside usual mid-month flows.The currency ended at 95.76, down 0.5%, barely holding on to any of the gain notched on Friday.”The dollar had weakened post the release of yesterday’s U.S. inflation data, but reversed its weakness after news of escalation…
Danske Research Team notes that Iran’s Revolutionary Guard has declared the Strait of Hormuz closed and reported attacks on vessels, while the US launched new strikes on Iranian targets. Brent crude has climbed toward USD 95/bbl on these developments.Strait of Hormuz tensions lift Brent”In the Iran-war, Iran’s Revolutionary Guard declared the Strait of Hormuz closed and threatened to target any vessel attempting to transit, reporting that two ships were fired upon, although US Central Command said commercial traffic “was continuing to transit in and out of the Strait”.””While the US launched new strikes on Iranian military assets inside Iran, Iran…
The rupee plunged by 32 paise to 95.57 against the US dollar in early trade on Thursday following a rise in global crude oil prices as hostilities between the US and Iran continued.Heavy FII outflows, weak domestic equity market and a marginally stronger greenback further weighed on the local unit.At the interbank foreign exchange market, the rupee opened at 95.55 against the US dollar before dropping further to 95.57.The local unit appreciated 16 paise to close at 95.25 against the US dollar on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent…
USD/JPY remains flat after two days of gains, trading around 160.50 during the Asian hours. The pair moves little after reaching a six-week high of 160.56 during earlier hours on Thursday, which could be attributed to possible foreign-exchange intervention by Japanese authorities.Finance Minister Satsuki Katayama stated earlier this week that the government is keeping a close watch on currency market movements. She emphasized that Japan’s stance remains unchanged regarding its preparedness to implement decisive steps when needed to ensure market stability.The Bank of Japan (BoJ) is widely anticipated to hike interest rates next week as policymakers battle soaring energy costs…