The pound struggled to extend gains against the dollar on Monday, with GBP/USD failing to build on a modest intraday bounce as fresh US dollar buying capped its recovery. Optimism over a potential US-Iran nuclear deal faded quickly after renewed hostilities in the Strait of Hormuz and widening disagreements over Tehran’s nuclear programme. That, combined
The USD/ZAR exchange rate will be in the spotlight this week as investors react to a recent court ruling that raised impeachment risks for President Cyril Ramaphosa. It was trading at 16.43, down from the April high of 16.91 and the year-to-date high of 17.2470. Cyril Ramaphosa’s impeachment risks rise The South African rand has
The dollar traded firmer against major currencies during Friday’s Asian session after renewed hostilities between the United States and Iran unsettled financial markets and boosted demand for safe-haven assets. The US and Iran exchanged fire and sharp remarks again on Thursday, increasing pressure on a fragile month-long ceasefire. The tensions resurfaced as Iran reviewed Washington’s
The dollar traded firmer against major currencies during Friday’s Asian session after renewed hostilities between the United States and Iran unsettled financial markets and boosted demand for safe-haven assets. The US and Iran exchanged fire and sharp remarks again on Thursday, increasing pressure on a fragile month-long ceasefire. The tensions resurfaced as Iran reviewed Washington’s
The Indian Rupee failed to extend its three-day winning streak against the US Dollar on Friday as renewed geopolitical concerns and rising oil prices weighed heavily on investor sentiment. The USD/INR pair rebounded sharply to near 94.56 after touching a two-week low of 94.03 in the previous session. The Indian currency came under pressure after
The USD/MXN exchange rate has come under pressure in the past few months as top emerging market currencies continued to beat the US dollar. It dropped to 17.30 on Friday, down from the year-to-date high of 18.14 as focus shifted to the US non-farm payrolls data and May 7th’s Mexico interest rates decision. US non-farm
The South African rand continued its strong momentum today, reaching its lowest level since April 22nd as a carry trade opportunity emerged. The USD/ZAR pair dropped to 16.4, down sharply from the year-to-date high of 16.90. Carry trade opportunity strengthens The USD/ZAR exchange rate continued its recent downward trend this week as the carry trade
The Indian Rupee recovered from early losses and turned positive against the US Dollar during Thursday’s afternoon trading session in India, supported by a sharp decline in oil prices and renewed optimism surrounding possible progress in US-Iran negotiations. The USD/INR pair slipped to near 94.34 as crude oil prices came under heavy selling pressure following
The USD/JPY pair traded around 156.30 on Thursday, posting modest daily losses as traders remained cautious over the possibility of another intervention by Japanese authorities in the foreign exchange market. At the time of writing, the pair was down a modest 0.05% on the day, as per data from forex trading platforms. Market participants largely
Sterling edged higher against the dollar on Thursday as investors reacted to developments surrounding the Iran conflict, while also monitoring British local elections that could increase political pressure on Prime Minister Keir Starmer. The pound was last up 0.2% against the dollar at $1.3621, adding to Wednesday’s 0.4% rise. Traders responded to reports suggesting the