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Daily Currency Snapshot

• Rupee future maturing on August 26 traded flat on Wednesday amid a rise in FII inflows in domestic markets. Further, the rupee was pressurised by an uptick in crude oil prices

• The US dollar gained yesterday holding near a 20-year high as investors waited for a Friday speech by the Federal Reserve Chairman for fresh clues on how aggressive the central bank will be in its battle against inflation

• The Euro traded flat yesterday amid growing recession fears fuelled by a possible energy supply crunch and strong US dollar. However, sharp downside was restricted by continuous rise in Germany 10-year bond yields

• The pound depreciated by holding above a two and a half year low amid strong US dollar. Further, worries over high inflation and rising recession fear pressurised the pound. However, a sharp rise in UK 10 years government bond yields prevented further downside

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