Tag Archives: Dollar

The Japanese yen took a breather from its recent rally as the BOJ began its two-day meeting on Tuesday. Last week, the yen surged over 2% against the dollar.

The Indian rupee faces renewed pressure this week, with traders expecting it to stay near its record low against the U.S. dollar. The rupee closed last week at 83.7275, its weakest level ever, and non-deliverable forwards suggest it will open around 83.71-83.72 per dollar on Monday.

CAD weakens against USD as the markets await the May manufacturing and wholesale sales data of Canada. Read more for forecasts and the market implications.

The yen (USDJPY) dominated currency markets this month, climbing to a near three-month high of 151.945 per dollar on Thursday. This is a major shift from its 38-year low of 161.96 per dollar at the start of the month. By Friday, the yen was at 153.66, set for a 2.5% rise for the week.

Key points:  The EURUSD pair moved lower as technical traders took control in a week lacking major economic news. The euro dipped below $1.0850, extending its decline from the $1.09 level. This marks the second consecutive day of negative performance for the pair, which is now down approximately 100 pips from its mid-July peak ofContinue Reading

Tesla stock falls following Q2 earnings miss. CEO Elon Musk forecasts a $5 trillion valuation with robotaxis. Read more for market implication.

Key points On Thursday, the yen experienced a rise, drawing support from the unwinding of carry trades ahead of the Bank of Japan’s (BOJ) policy meeting next week. This comes as a rotation out of megacap growth stocks dampened risk appetite broadly, providing safe haven bids for the Japanese currency.  Yen surges amid BOJ rateContinue Reading

The Indian rupee stayed nearly flat on Wednesday, hovering at 83.69 against the U.S. dollar by 11:00 a.m. IST, barely changed from its previous close at 83.6875. This steadiness came despite the currency nearing a record low of 83.7150 on Tuesday. 

Japan’s Nikkei share average dropped for a sixth consecutive session on Wednesday, closing at a one-month low of 39,154.85, down 1.11%. This marked its longest losing streak since October 2021. The broader Topix index also slid 1.42% to 2,793.12.

The US dollar index (Symbol: USDX) as expectations of an interest rate cut grows stronger as the spotlight shifted to economic data for more clues on the monetary policy path of the Federal Reserve.