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Daily Market Report: Forex
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The Dollar registered sharp gains against most major currencies
Fri, Aug 8 2008, 15:36 GMT
by ICICI Bank Treasury Research Group
- · The Rupee trimmed its initial losses ending flat after crude started falling and equity markets recovered from the red. USD/INR pair ended at 42.06 from 42.07 yesterday.
- · The 6 - month and 1-year forward premium was at 4.32% and 3.50% as compared to 4.59% and 3.74% yesterday.
- · The Dollar registered sharp gains against most major currencies due to cooling crude prices and concerns regarding economic slowdown spreading beyond the US. EUR/USD was at 1.5105 from 1.5442 yesterday and GBP/USD was at 1.9253 from 1.9504 yesterday. USD/JPY was at 109.75 versus 109.23 yesterday. *
*These levels are taken at 17:30 IST.
Published on Fri, Aug 8 2008, 15:45 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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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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