Indian rupee is expected to open little changed at 68.72-68.77 against the U.S. currency amid the dollar index’s gains and greenback sales by exporters.
The dollar index edged higher on Tuesday, heading for the eighth day of advance. The gauge is trading at its highest in two months ahead of the Federal Reserve policy review. The two-day Fed meeting gets underway later in the day and the decision is due Wednesday, after Indian markets close.
Meanwhile, expectations surrounding the Fed outcome have stabilized. Fed fund futures indicate an about 75% chance of a 25-basis-points rate cut and a 25% likelihood of a 50-basis-points rate cut.
The Chinese yuan was up 0.1% at 6.8876 after falling to over three-week lows yesterday. The U.S.-China trade talks are beginning in Shanghai on Tuesday, the first face-to-face meeting following the temporary trade truce at G20 last month.
16 Oct 2019 03:19 PM
Britain's currency weakened further on Wednesday while stocks in London extended their losses, following a report that talks to reach a Brexit deal with the European Union are near to collapse.
16 Oct 2019 11:58 AM
The yen is currently trading near 108.70 to a dollar, representing 0.15% gains on the day. The dollar has come under pressure, possibly due to the Sino-U.S. political friction and the haven demand for the anti-risk Yen.
16 Oct 2019 11:42 AM
Indian equity benchmarks moved higher on Wednesday, as investors looked towards a rise in September-quarter earnings for companies after the government's corporate tax cut, amid a rise in inflation and hopes of further rate cuts from the central bank
16 Oct 2019 11:31 AM
China's yuan fell against the dollar on Wednesday, erasing gains made following progress in Sino-U.S. trade talks and briefly falling past a key threshold, as a much weaker midpoint set by the central bank dented sentiment.
16 Oct 2019 10:57 AM
Gold traded lower on Tuesday as market participants awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note. Gold for
16 Oct 2019 10:51 AM
The Indian rupee fell to a one-month low against the dollar in early trade amid a further decline in the Chinese yuan, which weighed on appetite for Asian