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Daily Currency Snapshot

• Rupee future maturing on August 26 traded flat on Thursday amid weakness in domestic equity markets. Further, rupee was supported by drop in crude oil prices

• The US dollar slipped yesterday despite strong economic data, as investors waited on a speech by Federal Reserve Chairman Jerome Powell on Friday for further clues about the ongoing pace of the U.S. central bank’s rate hikes

• The Euro appreciated yesterday amid strong economic data from the euro area. The German economy advanced 0.1% on quarter in Q2 2022, compared to preliminary estimates of a flat reading, boosted by household and government expenditure

• The pound rose on Thursday amid weakness in US dollar and as investors waited for upcoming speeches by Bank of England and Federal Reserve officials that could determine the near term outlook for the currency

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