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Foreign Exchange

Date : 2023-08-03
Time : 10:00:00
Foreign Exchange
  • The dollar hit a four-week top against its major peers on Thursday, shrugging off a U.S. credit rating downgrade that cast doubt on the country's fiscal outlook, and instead got a leg up from strong private payrolls data.
  • Most Asian currencies retreated on Thursday, while the dollar rose after stronger-than-expected payrolls data helped overcome concerns over a U.S. rating downgrade by Fitch.
  • The Indian rupee will trade in a narrow range over the coming three months and then strengthen slightly in a year as the Reserve Bank of India uses its vast foreign exchange reserves to keep the currency stable, a Reuters poll found.
  • The U.S. dollar will hold its ground against most major currencies over the coming three months as a resilient domestic economy bolsters expectations interest rates will remain higher for longer, according to FX strategists polled by Reuters.
  • The Russian rouble tumbled over 2% to a more than 16-month low past 94 against the dollar on Wednesday, pressured by political risk, falling oil prices and concerns the finance ministry may switch to foreign currency purchases this month.
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