POUND
Dollar drops, yen surges as consumer prices fall in June
June's U.S. CPI drop led the dollar to fall, sparking yen intervention speculation. Japan's Ministry of Finance to confirm. Masato Kanda discussed yen fundamentals. Fed may cut rates in September. Euro, pound rose; British GDP exceeded expectations. Analysts from Bank of America and Standard Chartered noted inflation impacts. Long dollar/yen trades corrected. Bitcoin rose to $57,821.
US 'moving forward' with 500-pound bombs for Israel
The United States is resuming the delivery of 500-pound bombs to Israel after pausing over concerns about the use of 2,000-pound munitions in populated areas. This decision follows a halt in May due to fears related to an Israeli operation near Rafah in Gaza. Despite previous tensions, both sides have indicated progress in resolving differences. The U.S. remains a key military supporter of Israel but has expressed concerns over civilian casualties amid ongoing conflict with Hamas in Gaza.
Dollar adrift ahead of US inflation test; sterling firms
The dollar saw a slight decline while sterling strengthened on reduced expectations of a BoE rate cut. Markets await the U.S. inflation report. Fed Chair Powell emphasizes need-based interest rate decisions. BOJ considering tapering bond purchases. Global currencies trading flat with potential shifts ahead.
Dollar stays lower after US jobs data; euro up ahead of French election
Nonfarm U.S. payrolls increased by 206,000 jobs last month, the Labor Department report showed. Data for May was revised sharply down to show 218,000 jobs added instead of the previously reported 272,000. The unemployment rate rose to 4.1%, slightly higher than the estimated 4.0%.
Rupee closes nearly unchanged at 83.48 against dollar
The US Non-Farm Payroll (NFP) data is expected today, which will influence rate cut expectations by the Federal Reserve. The dollar index fell 0.2% to a three-week low and touched 104.95 due to pressures from the euro and the British pound.
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Dollar edges down after US jobs data; pound firm after UK election
The U.S. dollar index fell slightly on Friday after data showed U.S. job growth slowed marginally in June while the unemployment rate rose, underscoring the view the Federal Reserve could begin cutting interest rates in September.
Rupee closes flat, logs weekly decline; US jobs data in focus
The Indian rupee closed nearly unchanged on Friday as importer dollar demand weighed on the currency, even though most of its Asian peers gained ahead of the release of closely watched U.S. jobs data later in the day.
Dollar at three-week lows; pound takes UK election in stride
The US dollar nears three-week lows awaiting payrolls data impact, while the pound remains strong amid UK election expectations. Euro stable pre-French election. Yen rebounds cautiously. Australian dollar near six-month highs. Bitcoin slightly down.
Rupee falls 11 paise to close at 83.537 against US dollar; 10-year G-Sec yield trades flat
The 10-year benchmark bond yields have been trading flat, but traders say that these levels are good. “Today there seems to be buying from mutual funds. They sold during the quarter end so they have to replenish their kitty”, they said. Liquidity eased a bit as the month began to a surplus of almost Rs. 28,000 crores due to government spending.
US has sent Israel thousands of 2,000-pound bombs since Oct. 7
The Biden administration has sent Israel large quantities of munitions, including over 14,000 MK-84 2,000-pound bombs and thousands of Hellfire missiles, since the Gaza war began. These shipments, aimed at replenishing Israel's military supplies, reflect substantial U.S. support despite international calls to limit arms. While one shipment was paused over concerns about its impact in densely populated areas, other deliveries continue. The ongoing conflict has heightened international scrutiny and sparked political debate within the U.S., particularly among young Democrats. The administration maintains sufficient stockpiles and works with industry partners to produce more weapons.
Rupee recovers 3 paise to 83.58 against US dollar in early trade
Rupee trades 3 paise higher at 83.58 against the US dollar, supported by foreign capital and strong equity market sentiment.
Sterling steady ahead of BoE decision; dollar wobbles against yen
The British pound was steady ahead of the Bank of England rate decision, while the dollar awaited market catalysts. Currencies traded in tight ranges post-US holiday, with focus on BoE, Swiss, and Norwegian central bank decisions.
Dollar eases against euro as European political jitters subside
The dollar was modestly weaker against the euro on Monday, as the common currency recovered from the more than one-month lows hit last week driven by political turmoil in Europe.
Yen falls after BOJ decision; euro stutters towards weekly loss
The yen fell after the Bank of Japan kept rates unchanged and announced plans to reduce bond buying. Meanwhile, the euro faced political turmoil and a weekly loss.
Wimbledon prize money is increasing to a record 50 million pounds. That's about $64 million
Wimbledon's total prize money fund will increase to a record 50 million pounds, with the singles champions earning 2.7 million pounds each. The All England Club officials announced this at the annual spring briefing, led by Deborah Jevans.
Israel pounds Gaza refugee camp as war enters ninth month
Israeli forces bombed a Gaza refugee camp following a deadly strike on a UN-run school, leading to international condemnation. The conflict, sparked by Hamas's attack on Israel, has killed thousands and displaced millions in Gaza. Efforts to mediate a ceasefire have stalled, with Hamas yet to respond to US President Biden's proposal. The conflict has escalated, with Gaza facing attacks from land, sea, and air, as Israel accuses Hamas of using civilian infrastructure for military purposes.
10 Best Hammering and Pounding Toys for Kids for Active Play
Discover the top 10 hammering and pounding toys that foster creativity and fine motor skills in children. This guide highlights the best options, ensuring hours of fun and learning. From classic wooden sets to innovative designs, find the perfect toys to keep little hands busy and minds engaged in safe, constructive play.
Euro weakness drives pound to highest since August 2022
The euro dropped to as low as 84.48 pence, down 0.3%, at its lowest since August 2022, also trading lower against the dollar.
Dollar steady ahead of inflation data, yen wobbles
The dollar was stable on Wednesday ahead of crucial inflation readings, lifted by rising Treasury yields. The yen drifted to its weakest in four weeks. Euro and sterling also showed movements. Australian dollar spiked before steadying. U.S. consumer confidence improved in May. Markets await inflation reports this week.
Tata Motors group hikes investment outlay to Rs 43,000 cr for FY25
Tata Motors group has increased its investment outlay for FY25 to Rs 43,000 crore, with a significant portion allocated to its British arm, Jaguar Land Rover (JLR). In FY24, the company had initially planned for a 3 billion pound investment for JLR and Rs 8,000 crore for Tata Motors, totaling about Rs 38,000 crore. However, the actual investment in FY24 exceeded expectations, reaching around Rs 41,200 crore. For FY25, JLR's investment is expected to rise to around 3.5 billion pounds (approximately Rs 35,000 crore), with Tata Motors maintaining a similar investment level of around Rs 8,000 crore.
Israel moves into north Gaza Hamas stronghold, pounds Rafah without advancing
Israel's tanks advance into Jabalia in Gaza, fighting Hamas militants. The offensive targets eradicating Hamas, with clashes in Rafah. International pressure mounts to stop the assault led by Prime Minister Benjamin Netanyahu against Hamas and Islamic Jihad in Rafah. Israeli Defence Minister Yoav Gallant announces troop deployment in Rafah, while Hamas official Sami Abu Zuhri vows to defend.
Pakistan HC grants bail to Imran Khan in 190 million pounds corruption case
Pakistan's High Court grants bail to Imran Khan in a 190 million pounds corruption case. NAB investigates Khan, his wife, and PTI founder in land acquisition case involving Al Qadir University Trust. Case linked to National Crime Agency's recovery of funds from a tycoon and settlement in the Sohawa area of Jhelum district.
Pakistan court adjourns hearing of 190 million pounds graft case against Imran Khan over 'security concerns'
Pakistan's accountability court has adjourned the hearing of the 190 million pounds corruption case against Imran Khan until Friday due to security concerns at the high-security Adiala prison. The 71-year-old Pakistan Tehreek-e-Insaf (PTI) founder has been imprisoned at the Adiala Jail since August last year. The court accepted the request, citing reports of threat alerts on prisons in Punjab by banned organizations.
A brief history of the 2,000-pound Mark 80 bombs central to U.S.-Israeli tensions
The Mark 84 is a 2,000-pound bomb, part of the Pentagon's Mark 80 series. President Biden delayed a shipment to Israel of these bombs amid concerns over their use in Gaza, where civilian casualties have occurred. Israel mainly acquires these bombs from the United States.
Pound hits five-month low as dollar rallies on lower Fed bets
Sterling fell to a five-month low on Friday even as data showed the British economy was on course to exit its shallow recession, with all major currencies coming under pressure from a dominant dollar.
Pound is beating 92% of global currencies on UK economic rebound
The pound rose to around $1.29 last week, its highest level in seven months, recording its best week since November versus the dollar. Data in coming days could help reinforce those gains and bolster the narrative that the UK economy is making a comeback.
Sterling hits seven-week low as Powell and payrolls boost dollar
The pound fell to its lowest since mid-December on Monday after a very strong U.S. jobs report and comments from Federal Reserve Chair Jerome Powell combined to boost the dollar.
Sterling in narrow range versus dollar before PMIs
Money market traders are pricing around a 60% chance that the BOE cuts interest rates in May, with the first 25 basis point reduction fully priced by June. The market expects around 105 basis points of easing this year.
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