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Spot gold was up 0.7% at $3,469.84 per ounce by 1049 GMT, its highest since April 22 when it touched a record-high of $3,500.05
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A rebound in the U.S. dollar index above 100 could trigger outflows from emerging markets, with Elara Capital warning of a potential reversal in fund flows.
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The dollar index, which measures the US currency against six others, slipped to 96.688, its lowest since February 2022
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The Iran-Israel conflict, which intensified in mid-June, has reversed the short-lived optimism spurred by temporary tariff freezes and trade deals earlier this year, bulletin said
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A little more than half of 251 respondents think the US currency will regain its status as a safe asset as Iran and Israel continue to carry out attacks on each other.
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History warns that the greenback may one day be superseded as the global trade currency
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Spot traders are selling the currency against most peers, pushing down a gauge of the dollar to keep it near a three-year low on Wednesday ahead of the Fed’s policy decision later in the day
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The US dollar is trading near two-year lows. Wall Street banks, including Morgan Stanley and JPMorgan Chase & Co., expect further weakness in the US currency due to likely interest-rate cuts, slowing economic growth, and ongoing fiscal and trade policy uncertainty.
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On June 4, Indian rupee was under pressure due to dollar demand from oil companies, foreign investors, and importers
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The US commerce secretary said some of these moves have posed challenges to the relationship and are 'really not the way to make friends in America'
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The Reserve Bank of India had dollar repayments of near record high of $84.3 billion as of March as indicated by its net short forwards position
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Stablecoins are digital currencies designed to maintain a stable value by pegging them to traditional assets, such as the US dollar, the euro, or commodities like gold
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The Bloomberg Dollar Spot Index posted its strongest intraday gain since April 4, rising as much as one percent. The euro depreciated by up to 1.5 percent to $1.1084, marking its weakest daily performance of the year.
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Firms are receiving more requests for transactions including hedges that sidestep the dollar and involve currencies such as the yuan, the Hong Kong dollar, the Emirati dirham and the euro
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Trade deals are being pursued by countries amid tariff uncertainty
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On May 7, rupee depreciated around 20 paise driven by sharp rise in geopolitical tensions
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The Indian rupee is gaining ground as global investors bet on India’s economic resilience and dollar weakness, but there are risks ahead
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The local currency remains resilient in the last few days due to positive signals surrounding a potential US-India trade deal
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Last week, Indian rupee witnessed a appreciation of 2.5 percent on positive talks between US and India over tariffs
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Foreign fund inflows and a weaker dollar are supporting the currency
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The rupee opened at 85.61 against the dollar. It had ended the previous session at 85.77.
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The US dollar, not its merchandise or services, became America’s principal export. After decades of enjoying this benefit, US finds itself confronting multiple challenges, including lack of competitiveness in manufacturing. Some of the present global bloodbath was therefore inevitable. History has amply demonstrated that no change in global world order has ever happened without a major bloodbath
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The rupee closed at 86.2650 against the U.S. dollar, down 0.5% on the day. The currency hit a low of 86.29 during the session, its lowest since March 21
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The market turmoil unleashed by the US reciprocal tariffs has pushed up the rupee's volatility expectations to a near two-year high
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This is the first time December 18 that the rupee has traded below 85
