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Rupee Finished Weaker As Asian Currencies Declined, While Forward Premiums Fell.

WikiFX
| 2023-10-25 20:01

Abstract:# trading range for the day is 83.07-83.25.# Rupee ended lower tracking a decline in Asian currencie

# trading range for the day is 83.07-83.25.

# Rupee ended lower tracking a decline in Asian currencies, while forward premiums fell.

# S&P Global (NYSE:) PMIs for the US beat expectations, in another sign the US economy remained robust in October.

# However, likely intervention by RBI continued to help prevent a breach of the rupee\\'s record low.

# trading range for the day is 87.79-88.53.

# Euro struggled as investors prepared for an upcoming European Central Bank meeting later in the week.

# Policymakers will likely leave interest rates unchanged, following 10 consecutive hikes that brought borrowing costs to multi-year highs.

# ECB chief economist Philip Lane stated that there is a considerable way to go before contemplating rate cuts.

# trading range for the day is 100.84-101.5.

# GBP weakened amid worries over rising bond yields and the escalating Israel-Hamas conflict.

# Moody\\'s credit rating agency has dropped its negative outlook on the UK.

# British consumer price inflation was at a 1-1/2-year low of 6.7% in September.

# trading range for the day is 55.48-55.64.

# JPY remained in range as concerns over an escalating conflict in the Middle East dampened market sentiment.

# Japan's Kishida vows measures to cushion the blow from rising inflation.

# The core consumer price index in Japan, which excludes fresh food but includes fuel costs, rose 2.8% in September 2023 from a year ago.

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