Financial markets traded cautiously early Thursday as investors awaited fresh economic data from Europe and the United States for further direction. Market participants are closely watching preliminary May Manufacturing and Services Purchasing Managers’ Index (PMI) data from Germany, the Eurozone, and the UK. Later in the day, investors will focus on the US weekly Initial
The British pound traded largely unchanged against the US dollar on Thursday as investors focused on developments surrounding the Iran war, while also assessing weaker-than-expected surveys of UK business activity. Sterling was flat at $1.3437 against the dollar. Against the euro, the pound rose 0.13% to 86.42 pence. The broader currency market remained sensitive to
The dollar steadied in early Asian trading on Tuesday after US President Donald Trump paused a planned military strike on Iran to allow room for negotiations. The greenback had gained support in recent sessions as investors sought safe-haven assets amid fears that escalating tensions in the Middle East could disrupt global energy supplies and fuel
The Indian rupee fell to a fresh lifetime low on Tuesday as mounting external pressures continued to weigh on the currency. Rising oil prices linked to the prolonged Iran conflict and higher US Treasury yields added to concerns surrounding India’s external balances. The rupee weakened to 96.44 per US dollar, breaching the previous record low
The British pound slipped on Tuesday after fresh labour market data showed a sharp slowdown in hiring activity across the UK, adding pressure on sterling and raising questions over the strength of the country’s economic outlook. According to data released by the Office for National Statistics (ONS), Britain’s employers reduced hiring and posted fewer job
The US dollar strengthened above 99.25, reaching its highest point since April 8, as investors reacted to rising geopolitical tensions and changing expectations around US monetary policy. The Greenback gained momentum heading into the European trading session, supported by heightened risk aversion and renewed speculation that the US Federal Reserve could keep interest rates higher
Some global investment banks have revised their forecasts for the Chinese yuan higher, citing the country’s export competitiveness and stable trade relations with the United States. The Chinese currency has steadily strengthened this year, rising nearly 3% against the US dollar to 6.8040 per dollar on Monday. The yuan has also gained about 2.6% against
The British pound rose on Monday but remained close to its lowest level since early April, as investors weighed growing inflation concerns linked to rising energy prices against deepening political uncertainty in the UK. Sterling climbed 0.4% to $1.337 during the session after earlier falling as much as 0.15% to $1.3304, its weakest level since
The US dollar strengthened this week, supported by rising US Treasury yields as resilient macroeconomic data and persistent inflationary pressures increased expectations of additional Federal Reserve rate hikes later this year. The US Dollar Index (DXY), which tracks the Greenback against a basket of major currencies, climbed to a five-week high of 99.20 at the
The British Pound weakened against the US Dollar for the fourth consecutive session on Thursday, as political uncertainty in the UK intensified and investors shifted towards the stronger US currency. Sterling was trading at 1.3337 against the Dollar at the time of writing, pressured by growing concerns surrounding instability within the UK government and fears