archiveFederal Reserve policy

(Bloomberg) -- Emerging-market currencies are on track for a modest weekly gain, as the absence of US data during the government shutdown damped volatility and clouded investors’ reading of the Federal Reserve’s policy path.  The MSCI Inc. gauge for developing-nation currencies was little changed as of 1:40 p.m. in New York, with most exchange rates trading in narrow ranges. Turkey’s lira lagged peers even after the country’s inflation data came in above expectations. A sister index for equities rose 0.4% as investor optimism over artificial intelligence propelled tech shares. Markets...

Rupee on Friday climbed to a seven-month high, briefly breaching the 84-per-dollar mark, buoyed by sustained foreign fund inflows and strong domestic economic indicators. However, it failed to hold onto the gains and ended the day just 1 paisa stronger at 84.53 against the US dollar. In a session marked by volatility, the rupee touched an intra-day high of 83.76 — its strongest level since October 2024 — before slipping back. It opened at 83.98 and moved in a range of 83.76 to 84.55 through the day. Traders attributed the...