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Daily Currency Snapshot

* Rupee future maturing on September 28 appreciated yesterday by 0.48% amid weak CPI data from India. Inflation rate in India accelerated for the first time in four months to 7% in August 2022 from 6.71% in July, above market expectations of 6.9%

* The US dollar rallied sharply yesterday after data showed US consumer prices increased faster than expected in August, prompting bets on more aggressive rate hikes by the US Federal Reserve

* The Euro depreciated almost 1.40% yesterday amid weak German ZEW economic sentiment data from the euro area. The ZEW indicator of economic sentiment for Germany fell for a third month to -61.9 in September 2022 from -55.3 in August, reaching the lowest since October 2008 and worse than market forecasts of -60

* The pound edged lower by 1.60% despite strong jobs data from Britain. The jobless rate in the UK fell to 3.6% in the three months to July 2022, the lowest since 1974, from 3.8% in the previous period and compared to market forecasts of 3.8%

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