Pound bounced back from 2 month lows and traded around 1.3750 amid timid US Treasury yields capping Dollar’s gains.
A potential link between the AstraZeneca coronavirus vaccine and a rare blood clotting disorder led to a temporary ban on the vaccine for the below 30 age group. This could delay the plans of easing of lockdowns and may weigh on the pair combined with the unrest in Northern Ireland.
Deteriorating risk sentiment and Fed Chair Powell's positive comments will continue to support Dollar’s safe-haven appeal. News of the attack on Iran's nuclear facilities hampered the risk sentiment.
Going ahead, the pair is expected to fall back given the lack of economic events and decreasing risk appetite.
12 May 2021 11:33 AM
Indian equities edged down by financials today as Asian peers fell on worries over a potential pickup in U.S. inflation, while domestic COVID-19 deaths crossed the quarter-million mark with no signs of infections peaking.
12 May 2021 11:15 AM
Gold fell today, pulled down by higher U.S. Treasury yields and a slight rebound in the dollar ahead of the U.S. consumer price data due later in the day.
12 May 2021 11:03 AM
The yuan eased on Wednesday as overseas-listed Chinese firms bought dollars to make dividend payments, but trade was cautious ahead of U.S. inflation data which has raised concerns in equity markets about earlier interest rate hikes.
12 May 2021 10:38 AM
Here's how the Indian Rupee, Stocks, Bonds and Swaps are faring in the early session
12 May 2021 08:40 AM
The Indian rupee is likely to depreciate against the dollar on broad dollar strength amid more inflation-related losses for regional equities.
12 May 2021 07:45 AM
A brief synopsis of markets to fresh start your day