The Indian Rupee (INR) traded marginally higher against the US Dollar (USD) in early trade on Wednesday as falling crude oil prices supported sentiment for the domestic currency. The USD/INR pair slipped toward 95.70 after oil prices failed to sustain Tuesday’s recovery amid continued optimism surrounding a possible agreement between the United States and Iran.
The US dollar, which has spent months trading in a narrow range, could be poised for a stronger move higher as investors increasingly expect the Federal Reserve to focus on rising inflation risks rather than interest rate cuts. The dollar had weakened sharply in the first half of last year, falling nearly 11%. Since then,
Oil prices steadied in volatile trading on Tuesday after a sharp selloff in the previous session, as hopes for progress on reopening the Strait of Hormuz helped ease some of the market’s worst fears over energy supplies. Brent crude recovered around 1.5% to $97.76 a barrel after sliding 7% on Monday. The rebound followed a
The US dollar remained resilient against major currencies during the European session on Tuesday after weakening in the previous session, as geopolitical tensions in the Middle East continued to keep investors cautious. Although markets initially welcomed reports suggesting progress in negotiations between the United States and Iran, escalating tensions in the Strait of Hormuz limited
The British pound weakened on Tuesday as investor optimism surrounding a possible Iran peace agreement faded following recent US attacks on Iranian targets and comments from US Secretary of State Marco Rubio suggesting negotiations could take more time. Sterling was last down 0.2% against the US dollar at $1.348 after gaining 0.6% on Monday. The
The NZD/USD exchange rate pulled back today, May 25, as forex traders for the upcoming Reserve Bank of New Zealand (RBNZ) interest rate decision, which happens on Wednesday this week. It retreated to 0.5872, down by nearly 2% from its highest point this month. RBNZ interest rate decision ahead The main catalyst for the NZD
The US dollar held close to a six-week high on Friday as resilient US economic data and uncertainty over US-Iran talks kept demand for the greenback intact. The dollar index traded at 99.24, little changed on the day and just below Thursday’s high of 99.515, the strongest level since April 7. The move extended a
The US Dollar remained resilient against major currencies on Friday as investors continued to assess developments surrounding the ongoing Middle East conflict and possible negotiations between the United States and Iran. The greenback held firm after a volatile trading session on Thursday, while market participants also awaited fresh economic data from Europe and the United
The Indian rupee rose slightly on Thursday after reports that the country’s central bank was considering all options, including hiking interest rates amid the slump. The USD/INR pair retreated to 96.4050, a few points below the record high of 96.97. RBI considers rate hikes and interventions The Reserve Bank of India has come under intense
Zimbabwe’s gold-backed currency, ZiG, has held steady this year as adoption continues and the country’s economy improves. The USD/ZWG pair was trading at 26.22 on Thursday, inside a range it has remained at in the past few months. Zimbabwe ZiG stable as the central bank calls it, undervalued ZIG, a currency backed by gold and