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Daily Market Report: Forex
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The Sterling weakened against the Dollar
Tue, Jul 29 2008, 14:14 GMT
by ICICI Bank Treasury Research Group
- · The Rupee, although appreciated after the more-than-expected central bank hike in Repo rate (50 bps) and CRR (25 bps), lost its ground ending weaker after the RBI governor announced withdrawal of special open market operations with oil companies, which could lead to higher future Dollar demand. USD/INR pair ended at 42.63 from 42.54 yesterday.
- · The 6 - month and 1-year forward premium was at 5.19% and 4.27% as compared to 4.69% and 3.88% yesterday.
- · The Sterling weakened against the Dollar, after trading at firm levels, due to an all time low in retailers’ sentiment according to a survey by Confederation of British Industry. EUR/USD was at 1.5708 from 1.5750 yesterday and GBP/USD was at 1.9872 from 1.9865 yesterday. USD/JPY was at 107.81 versus 107.70 yesterday. *
*These levels are taken at 17:30 IST.
Published on Tue, Jul 29 2008, 14:19 GMT
Archive
- The Swiss franc fell to its lowest levels against the Dollar since August 2007
Published On Thu, Nov 20 2008, 16:11 GMT - The Sterling pared its gains against the Dollar
Published On Wed, Nov 19 2008, 16:09 GMT - The Dollar gained against major currencies except the Yen
Published On Fri, Nov 7 2008, 14:17 GMT - The Sterling pared its losses as the aggressive 150 bps rate cut
Published On Thu, Nov 6 2008, 15:26 GMT - The Sterling lost heavily overnight
Published On Tue, Nov 4 2008, 16:56 GMT
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