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
Financial markets traded cautiously early Thursday as investors awaited fresh economic data from Europe and the United States for further direction. Market participants are closely watching preliminary May Manufacturing and Services Purchasing Managers’ Index (PMI) data from Germany, the Eurozone, and the UK. Later in the day, investors will focus on the US weekly Initial
The British pound traded largely unchanged against the US dollar on Thursday as investors focused on developments surrounding the Iran war, while also assessing weaker-than-expected surveys of UK business activity. Sterling was flat at $1.3437 against the dollar. Against the euro, the pound rose 0.13% to 86.42 pence. The broader currency market remained sensitive to
The British Pound weakened against its major peers during the European trading session on Wednesday after the United Kingdom released softer-than-expected April inflation data. Sterling fell to near 1.3375 as investors reacted to signs that inflationary pressures in the UK cooled faster than anticipated. The weaker inflation data strengthened market expectations that the Bank of
The US dollar maintained its upward momentum early Wednesday after outperforming major global currencies in the previous session, supported by rising US Treasury bond yields and growing expectations of tighter Federal Reserve policy. Investors are now closely watching the US Treasury’s 20-year note auction later in the day, along with the release of minutes from
The USD/ZAR exchange rate remained in a narrow range this month, even as the US Dollar Index (DXY) continued its strong rally. This consolidation may end soon as South Africa’s inflation rises and a carry-trade opportunity emerges amid rising Fed and SARB divergence. South African rand in focus as inflation jumps A report by South
The Reserve Bank of India (RBI) on Wednesday announced a dollar/rupee buy-sell swap auction worth $5 billion with a tenor of three years, scheduled for May 26, as the central bank seeks to manage liquidity conditions amid continued pressure on the Indian currency. The RBI said the decision followed a review of current and evolving