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Daily Currency Snapshot

• Rupee future maturing on October 27 traded flat yesterday despite weakness in domestic equity markets. Further, the rupee was pressurised by an uptick in crude oil prices

• US dollar dropped by almost 0.70% yesterday amid weaker than expected initial jobless claims data from the US. The number of Americans filing new claims for unemployment benefits rose to a sixweek high of 228,000 in the week ending October 8, surpassing expectations of 225,000

• The Euro appreciated on Thursday amid hawkish comments from two ECB policy makers. Bundesbank President Joachim Nagel and Belgium's central bank governor Pierre Wunsch, two policymakers who typically favour higher rates, urged more hikes as soon as the ECB's next meeting on October 27

• The British pound surged almost 2% to a one-week high after reports of a possible U-turn by the UK government on its fiscal plans. However, further upside was restricted after a survey showed sentiment in the UK financial sector was falling at the fastest pace since 2019 in the third quarter of this year

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