Rupee falls 38 paise against US dollar in late morning trade
The domestic currency weakened to over three weeks low against the dollar, down 38 paise to Rs 62.07 in late morning trade on sustained bouts of demand for the greenback from banks and importers amid bullish US currency overseas. The rupee resumed sharply lower at 62.00 as against last Friday's close of 61.69 at the Interbank Foreign Exchange ( Forex) market here. It further lost ground at Rs 62.12 and was quoting at 62.07 at 1035 hrs. The local currency hovered in a range of 62.12-61.98 per dollar during late morning trade.
Sterling slips, investors prepare for BoE inflation data
Sterling weakened on Monday as attention shifted to a Bank of England inflation report due later this week, which is expected to support expectations that UK interest rates will stay lower for longer. The pound was also hurt by a widening gap between US 10-year Treasury yields and their British counterparts. The US 10-year yield posted its biggest rise in one-and- a-half years on Friday as robust US jobs data stoked expectations that the Federal Reserve will raise interest rates as early as June. Sterling was down 0.15 per cent at $1.5225, while against the euro it slipped around 0.4 per cent to trade at 74.50 pence per euro. The British currency has suffered in the past few months as investors pushed back expectations of a rate hike, with markets now expecting the first monetary tightening only in early or the middle of 2016.
The domestic currency weakened to over three weeks low against the dollar, down 38 paise to Rs 62.07 in late morning trade on sustained bouts of demand for the greenback from banks and importers amid bullish US currency overseas. The rupee resumed sharply lower at 62.00 as against last Friday's close of 61.69 at the Interbank Foreign Exchange ( Forex) market here. It further lost ground at Rs 62.12 and was quoting at 62.07 at 1035 hrs. The local currency hovered in a range of 62.12-61.98 per dollar during late morning trade.
Sterling slips, investors prepare for BoE inflation data
Sterling weakened on Monday as attention shifted to a Bank of England inflation report due later this week, which is expected to support expectations that UK interest rates will stay lower for longer. The pound was also hurt by a widening gap between US 10-year Treasury yields and their British counterparts. The US 10-year yield posted its biggest rise in one-and- a-half years on Friday as robust US jobs data stoked expectations that the Federal Reserve will raise interest rates as early as June. Sterling was down 0.15 per cent at $1.5225, while against the euro it slipped around 0.4 per cent to trade at 74.50 pence per euro. The British currency has suffered in the past few months as investors pushed back expectations of a rate hike, with markets now expecting the first monetary tightening only in early or the middle of 2016.
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