Latest news with #GBPUSD
Business Standard
2 days ago
- Business
- Business Standard
Pound near 2-month low against dollar; GBPINR futures slip under 116 mark
UK pound is seen attempting recovery from an over two month fall against the dollar on Tuesday. The US currency was driven higher near a one month high in the previous session following the US-EU tariff deal. However, a mild pullback in dollar from yesterdays sharp gains is seen supporting the GBPUSD counter to some extent. Currently, dollar index that measures the greenback against a basket of currencies is quoting at 98.54, up 0.14% on the day. Meanwhile, GBPUSD is trading at $1.3359, almost flat on the day but rebounding from yesterdays over half a percent fall. Meanwhile, a survey by the Confederation of British Industry (CBI) showed on Monday that retail sales declined for the 10th straight month in July. However, the pace of decline in retail sales was less severe than what was seen in June. The data came in at -34, improved from -46 in June. GBPINR futures on NSE are quoting at 115.80, down 0.45% on the day.
Business Standard
3 days ago
- Business
- Business Standard
Dollar index holds firmly above 98 mark; FOMC in focus
The US dollar index extended momentum following an over 1% surge in the previous session driven by US-EU trade agreement. The US and EU reached a framework trade agreement on Sunday that sets 15% tariffs on most European goods, taking effect on August 1. However, euro lost impetus following the trade deal that boosted the greenback. Moreover, further developments in the US-China trade talks are also eyed. Investors now turn focus to the outcome of a two-day FOMC policy meeting on Wednesday for further cues. The dollar index that measures the greenback against a basket of currencies is quoting at 98.44, a near two-week high. However, the basket currencies slumped yesterday in tune with dollar strength. EURUSD was quoting at around two week low of $1.1619 and GBPUSD dropped to a near two month low of $1.3354.
Business Standard
7 days ago
- Business
- Business Standard
Pound pressured by strong dollar, lower than expected UK retail sales; GBPINR futures slide
UK pound edged lower against the dollar on Friday tracking good rebound in dollar overseas amid mixed set of US data. DXY, which tracks the greenbacks performance against a basket of six currencies, is up 0.21% at 97.32. Data revealed that the number of Americans filing for unemployment benefits dipped below forecasts, suggesting a strong labour market. However, the S&P Global Manufacturing PMI fell into contraction territory, signaling weakness. Meanwhile, on the domestic docket, UK retail sales fell short of the market expectations. UK retail sales were up 0.9% month-over-month in June after declining 2.8% in May but markets projected a 1.2% rebound in the reported month. Core sales, stripping the auto motor fuel sales, climbed 0.6% on month, compared with the previous revised drop of 2.9% and the expected 1.2% growth. Annual retail sales also came in below expectations. Currently, GBPUSD is quoting lower by 0.21% at $1.3494. On the NSE, GBPINR futures were down 0.19% at 116.78.
Business Standard
21-07-2025
- Business
- Business Standard
Dollar index loses recent momentum but holds on to 98 mark
The dollar index is losing momentum on Monday morning in Asia after coming off recently attained three and half week high but manages to stay supported above 98 mark. Uncertainties surrounding US President Donald Trumps tariff policies are seen dragging the currency lower alongside worries about US fiscal and debt situation. US Commerce Secretary Howard Lutnick said on Sunday he was confident the US could secure a trade deal with the EU, but said August 1 was a hard deadline for tariffs to kick in. Investors will continue to closely monitor the news US tariff policies. Meanwhile, Fed Governor Christopher Waller said that policymakers should cut interest rates in the July meeting to boost a job market that looks to be weakening, further contributing to downside in the greenback. The dollar index that measures the greenback against a basket of currencies is currently quoting almost flat at 98.19. Among basket currencies, EURUSD and GBPUSD are marginally higher at $1.1675 and $1.3430 respectively.
Business Standard
17-07-2025
- Business
- Business Standard
Dollar index firm near 3 and half week high; US retail sales, Fed speakers in focus
The dollar index firmed up further near a 3 and half week high on Thursday following sharp moves in the previous session amid reports of President Donald Trump considered removing Fed Chair Jerome Powell. Meanwhile, US data showed PPI in June dipped from 2.6% to 2.3% on year, below estimates of 2.5%. Excluding volatile items, PPI cooled from 3% to 2.6%, below forecasts of 2.7%. A day earlier US CPI rose 2.7% year-over-year in June, support the case of the Federal Reserve (Fed) maintaining its benchmark overnight interest rate unchanged. Further, Dallas Fed President Lorie Logan said on Tuesday that the Fed will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of upward pressure from the Trump administration's tariffs. US treasury yields climbed to 4.48% while the dollar index that measures the greenback against a basket of currencies added around 0.3% to 98.37 at the time of writing. The greenback stays firm ahead of retail inflation data, the weekly unemployment claims and also in focus are Fed speakers for further cues. Among basket currencies, EURUSD and GBPUSD have both lost recent momentum as dollar regains strength and are quoting lower at $1.1634 and $1.3391 respectively.
