Dollar, yields rise after Powell comments, Bank of England rate hike
The Swiss National Bank (SNB) and Norges Bank also hiked their benchmark rates, underscoring worries about global inflation.
Buy EURINR; target of : 90.20 : June 22, 2023: ICICI Direct
ICICI Direct, The Euro edged up by 0.62% on Wednesday amid weak US dollar.
Dollar edges down after Powell testimony
The Fed had left interest rates unchanged at its June meeting but signalled in new projections that borrowing costs may still need to rise by as much as half of a percentage point by the end of this year.
Buy USDINR; target of : 82.30 : June 21, 2023: ICICI Direct
ICICI Direct, The US dollar index rose marginally by 0.05% on Tuesday as the building permits in the United States increased by 5.2% to a seasonally adjusted annual rate of 1.491 million in May 2023, following two consecutive months of decline and surpassing market expectations of 1.42 million.
Sell EURINR; target of : 89.35 : June 20, 2023: ICICI Direct
ICICI Direct, The Euro edged down by 0.18% on Monday amid strong US dollar. However, sharp downside was restricted after two ECB policymakers said the European Central Bank should err on the side of further interest rate hikes as inflation could come in even higher than it expects.
Sell EURINR; target of : 89.55 : June 19, 2023: ICICI Direct
ICICI Direct, The Euro lost its earlier gains and closed with a marginal lass of 0.04% on Friday amid a decline in German 10 year’s bond yields and recovery in the dollar.
Sell USDINR; target of : 81.90 : June 16, 2023: ICICI Direct
ICICI Direct, The US dollar index dropped more than 0.80% after the European Central Bank raised interest rates a day after the Federal Reserve paused its hikes.
Buy EURINR; target of : 89.20 : June 14, 2023: ICICI Direct
ICICI Direct, The Euro gained more than 0.30% after data showed the annual inflation rate in Germany was confirmed at a 14-month low of 6.1% in May 2023
Sell USDINR; target of : 82.30 : June 12, 2023: ICICI Direct
ICICI Direct, US dollar index bounced off two - weeks lows on Friday amid higher treasury yields.
Productivity growth critical for recovery of emerging economies: RBI's Michael Patra
Michael Patra, in a speech delivered at the Sixth Asia KLEMS Conference on Sunday, said it is widely believed that structural slowdown has been spreading across the global economy after growth peaked in 2010.
Sell USDINR; target of : 82.45 : June 08, 2023: ICICI Direct
ICICI Direct, The US dollar index remained largely unchanged yesterday as investors stay cautious ahead of next week’s key FOMC meeting.
Sell USDINR; target of : 82.40 : June 06, 2023: ICICI Direct
ICICI Direct, The US dollar index retreated to 104 level after climbing as high as 104.40 on Monday, amid weaker set of economic numbers.
Sell GBPINR; target of : 102.30 : June 05, 2023: ICICI Direct
ICICI Direct, The pound wiped its gains on Friday amid strong dollar. The pair lost more than 0.50% on Friday and moved below the 1.2450 mark after testing one week high at 1.2544•
Sell USDINR; target of : 82.20 : June 02, 2023: ICICI Direct
ICICI Direct, The US dollar index fell more than 0.50% on Thursday as weaker set of economic numbers and hawkish comments form Fed officials reinforced the expectation that Fed will take a pause in its rate hike regime.
Dollar Dominance: US currency will fight off the digital upstarts
When it comes to carrying value across illiquid currency corridors, the dollar is a sturdy mule. The enormous coordination and trust it will require to first create a global digital public good, and then agree on its ownership and governance, makes digital currencies a non-starter
Sell USDINR; target of : 82.55 : May 30, 2023: ICICI Direct
ICICI Direct, The US dollar index paused in its rally and steadied near 104.20 as a US debt ceiling deal lifted risk appetite in the world markets and dented the safe haven appeal of the dollar.
Sell EURINR; target of : 88.60 : May 26, 2023: ICICI Direct
ICICI Direct, The Euro fell to its two month lows on Thursday amid a strong dollar and weaker economic numbers from eurozone.
Sell EURINR; target of : 88.80 : May 25, 2023: ICICI Direct
ICICI Direct, The Euro fell towards the 1.075 mark and slid more that 0.10% on Wednesday amid a strong dollar and weaker global risk sentiments.
Dollar gains on resilient U.S. economy, flight to safety
The dollar index, which tracks the U.S. currency against six major peers, hit 103.91, its highest since March 20. The index last rose 0.299% at 103.83.
Sell GBPINR; target of : 102.90 : May 23, 2023: ICICI Direct
ICICI Direct, The pound remained in a tight range on Monday after its sharp rebound on Friday.
Dollar gains against yen as Fed policy, debt ceiling in focus
The euro gained 0.04% to $1.0810, having hit a more than seven-week low of $1.0760 on Friday.
Live: RBI Governor Shaktikanta Das addresses PSU bank members after meeting
RBI Governor Shaktikanta Das’ Address After Meeting PSU Banks’ Members
Buy USDINR; target of : 82.55 : May 18, 2023: ICICI Direct
ICICI Direct, The US dollar gained 0.24% on Wednesday on optimism about a deal to extend the debt ceiling and avert US default.
Safe-haven dollar climbs to 6-week high, US debt risks in focus
Against a basket of peers, including the euro, yen and sterling, the dollar index rose 0.25% to 102.86, after earlier touching its highest since early April.
