Forex tips: Sterling hit a two-month high against a broadly weaker dollar on Wednesday, just days before a closely fought British parliamentary election that international investors see as having little impact. Sterling has risen more than 3 percent since last Wednesday, when minutes from the Bank of England showed the central bank saw a chance that inflation could rebound faster than expected next year, and that it thought the rate tightening priced in by markets was "exceptionally slow". Sterling traded at $1.5397, its strongest since March 3 and up 0.4 percent on the day. Against the euro, the pound was 0.2 percent higher at 71.44 pence.
Rupee trims early losses, still down 7 paise against dollar
The rupee trimmed its initial losses, but was still down 7 paise at 63.22 against the American currency in late morning trade on bouts of month-end dollar demand from banks and importers amid volatile equities. The rupee opened lower at 63.22 against last closing level of 63.15 at the Interbank Foreign Exchange market. Then it slid further to 63.28 before quoting again at 63.22 at 1100 hrs. It hovered in a range of 63.14 and 63.28 during morning deals. In New York forex market, the dollar remained stuck at its two-month lows against a basket of major currencies in early trade as the market hedged the risk that the Federal Reserve might sound more dovish following a two-day policy review.
Written by Unknown
We are Creative Blogger Theme Wavers which provides user friendly, effective and easy to use themes. Each support has free and providing HD support screen casting.
0 comments:
Post a Comment