Currency: the dollar, the rupee and the pound rising : Orishas-finance

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Currency: the dollar, the rupee and the pound rising

02/05/2025

Source : ORISHAS FINANCE

Categories: Economy/Forex

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Currency: the dollar, the rupee and the pound rising

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This Friday, currencies improved. The US dollar is on the verge of its third weekly increase. While the rupee and the pound are increasing.

The U.S. dollar headed for a third consecutive weekly increase, as signs of progress in Washington's discussions with some of its trading partners and better-than-expected data alleviated concerns about investments in the world's largest economy.

The dollar index was little changed at the start of trading in Asia, moving towards a 0.5% increase after a week of relatively weak activity due to public holidays. The greenback traded at 145.53 yen, just below its three-week high on Thursday.

The rise of the Indian rupee to multi-month highs could continue on Friday, supported by a large rise in Asian peers and anticipated portfolio inflows. The one-month undeliverable futures contract indicated that the rupee would open at 84.42-84.44 per dollar, up slightly from its close of 84.4875 on Wednesday. Indian financial markets were closed on Thursday.

The pound rose against a weaker dollar on Friday, staying close to a three-year high reached earlier in the week as the US currency lost ground due to tariffs announced by US President Donald Trump.

At 10:18 GMT, the pound sterling was up 0.1% against the dollar at 1.3292, although it lost some ground on the euro, to trade at 85.26 pence for the common currency.

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