Forex tips: Extending its slide for the fifth straight day today, the rupee weakened by another 39 paise to 63.92 against the dollar on sustained capital outflows amid a weakening trend in equities. Besides, increased demand for dollar from importers and banks weighed on the local currency, forex dealers said. The rupee had dipped by 10 paise to close at one-week low of 63.54 against the US dollar in yesterday's trade.
Rising yields help euro hit 10-week high vs struggling dollar
The The euro hit a ten-week peak on Thursday, tracking European bond yields higher and benefiting from a sell-off in the dollar after weak US jobs data added to speculation that the Federal Reserve will delay raising interest rates. As Britons took to the ballot box to cast their votes in the most uncertain UK parliamentary elections in decades, the euro also hit a three-month high against sterling. Figures on Wednesday showed US private sector employers in April hired the fewest workers in over a year, raising a red flag for closely-watched non-farm payrolls numbers due on Friday. That data, as well as a warning from Fed Chair Janet Yellen about the potential dangers of high equity valuations, helped drive the euro to its highest against the greenback since late February, trading up 0.3 per cent at $1.13825 on Thursday.
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