Price action on the South Asian currency is likely to be driven by 'merchant flows' as speculative activity remains muted towards the year-end
Price action on the South Asian currency is likely to be driven by 'merchant flows' as speculative activity remains muted towards the year-end
The dollar index had dropped to its lowest since late July after softer than expected US inflation data
A weak greenback against major currencies overseas weighed in favour of the South Asian currency amid concerns over oil supplies, experts say
Asian currencies struggled after more Fed officials indicated that the market is probably 'too optimistic' in its rate cut expectations, experts say
The Fed is expected to keep rates unchanged on Wednesday; however, investors will be keeping an eye on its projections and commentary for cues on the future policy rates
Forex traders say the South Asian currency is trading in a narrow range as the support from easing crude oil prices is negated by strong dollar demand
Forex traders say positive sentiment in the domestic equity markets and lower crude oil price also favoured the currency
Forex traders say sustained foreign fund outflows and rising crude oil prices weighed on investor sentiments
Investors now await US initial jobless claims data for the preceding week due later in the day
A positive trend in domestic equities boosted investor sentiments