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The rupee depreciated 30 paise to 85.88 against the US dollar in early trade on Friday, weighed down by intensifying geopolitical tensions between India and Pakistan.Forex traders said geopolitical tensions between India and Pakistan have sparked risk-off sentiment in the market leading to the rupee weakness. Besides, increased demand for the US dollar further dented investor sentiments. At the interbank foreign exchange, the domestic unit opened at 85.88 against the greenback, registering a fall of 30 paise over its previous close. On Thursday, the rupee saw its steepest single-day fall...

EUR/USD struggles to stabilize above 1.1300 after closing in the red on Wednesday.Technical sellers could take action in case the pair breaks below 1.1270.Markets see a diminishing chance of a Fed rate cut in June.EUR/USD came under bearish pressure in the American session on Wednesday and closed the day deep in negative territory. The pair stays on the back foot early Thursday and trades slightly below 1.1300. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the...

GBP/USD trades in negative territory below 1.3350 on Wednesday.The technical outlook is yet to point to a buildup of directional momentum.The Fed will announce monetary policy decisions later in the day.After posting gains to start the week, GBP/USD edges lower and trades in negative territory below 1.3350 in the European session on Wednesday as investors gear up for the Federal Reserve's (Fed) monetary policy announcements. British Pound PRICE Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest...

USD remains offered across the board as investor flows shift sharply into Asia, following a record 6% two-day surge in the Taiwan dollar (TWD) and strong gains in the Korean won (KRW), Chinese yuan, and Thai baht (THB). Markets are reassessing US asset exposure amid weakening U.S. growth and erratic trade policies, with the greenback under sustained pressure.Asian selling continues, amplified by speculation that Taiwan and other regional economies may be allowing currency appreciation to ease trade tensions with Washington. The Singapore dollar (SGD) and Malaysian ringgit (MYR) have also...

More than a decade ago, walking along the busy main road of Goma in the Eastern Democratic Republic of the Congo, you could find a lot of things for sale: clothes, hats, groceries. And dollars. Huge stacks of dollars carried by young men, known as money changers. Some dollars were so soiled they were black and limp like cloth, they’d been in circulation for so long. Others were newer.“Everyone prefers U.S. dollars over Congolese francs,” one money changer told me. “It’s more stable. A lot of people here are import-exporters,...

The US Dollar Index edges to 99.60 as the Taiwan Dollar posts the biggest intraday jump in over 30 years.ISM Services PMI climbs to 51.6 in April, beating estimates and March’s 50.8 reading.Treasury Secretary Bessent says trade deals may be reached this week; deficit reduction targeted.Market activity remains thin with holidays in China and the United Kingdom.The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, posted mild gains on Monday as the Taiwan Dollar surged over 5%. The move sparked a...

The Middle East is home to many fascinating countries that attract tourists in their millions. Last year, a whopping 95 million visitors descended on the region, seeking new horizons and experiences.Saudi Arabia was the most popular Middle Eastern destination in 2024, followed by Egypt and the United Arab Emirates. One tiny country in the region is continuing to see a growth in visitor numbers, as it looks to expand its tourism sector. Kuwait is situated in the northern edge of the Arabian Peninsula at the head of the Persian Gulf.The country...

EUR/USD retreats to the 1.1400 region after closing in positive territory on Monday.Markets await key macroeconomic data releases from the US.The technical outlook doesn't point to a buildup of bullish momentum.Following a quiet start to the week, EUR/USD gained traction and closed in positive territory above 1.1420 on Monday. The pair corrects lower in the European session on Tuesday and trades at around 1.1400. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the...

GBP/USD holds above 1.3300 to start the week.The technical outlook highlights sellers' hesitancy in the near term.Markets will continue to pay close attention to headlines surrounding the US-China relations.GBP/USD closed marginally lower on Friday but ended up posting small weekly gains. The pair holds its ground in the European session on Monday and trades above 1.3300. British Pound PRICE Today The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the New Zealand Dollar. USD EUR GBP JPY...

Havens favoured as trade risks simmer This week's report dives into what looks set to influence the fair value of the major currencies – think the New Zealand Dollar (NZD), Australian Dollar (AUD), Japanese Yen (JPY), Swiss Franc (CHF), Euro (EUR), British Pound (GBP), Canadian Dollar (CAD), and US Dollar (USD) – over the coming seven days. We're setting this against the backdrop of the wider seven-week picture and, of course, how they've performed recently. We'll be looking at the usual suspects: what markets expect from central bank policy, the...