Monthly Archives: August 2024
Rupee edges higher with Asian peers; forward premiums increase
Written on August 1, 2024 at 8:05 am, by anakin
The rupee (USDINR) stood at 83.70 against the U.S. dollar as of 11:00 a.m. IST, up from its previous close of 83.72. On Wednesday, the currency had hit a record low of 83.7450. Asian currencies rose between 0.1% and 0.8%, while the dollar index (DXY) was at 104 after declining 0.4% on Wednesday.
Aussie and Kiwi hold steady as bond rally fuels rate cut hopes
Written on August 1, 2024 at 7:29 am, by anakin
The Australian dollar (AUDUSD) held at $0.6540, recovering from a three-month low of $0.6480 overnight. Support lies around $0.6466, with resistance at $0.6580.
Dollar recovers as Fed hints at cuts; yen firms on BOJ hawkishness
Written on August 1, 2024 at 7:06 am, by anakin
An eventful Wednesday saw the Bank of Japan (BOJ) raise interest rates to levels not seen in 15 years. This prompted traders to reassess popular carry trades before the Federal Reserve held rates steady but hinted at potential rate cuts as U.S. inflation cools.
