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Daily Currency Snapshot

• Rupee future maturing on September 28 traded flat on Monday despite a rise in domestic equities. Further, a rise in crude oil prices pressurised the rupee

• The US dollar appreciated on Monday, trading within narrow ranges ahead of central bank meetings this week, which is likely to deliver another hefty interest rate hike. Further, there was an uptick in US 10 year’s treasury yields

• The Euro traded flat on Monday despite a strong US dollar. Further, sharp downside was prevented after ECB Vice President Luis de Guindos said the exact number of further interest rate hikes by the European Central Bank will depend on upcoming macroeconomic data

• The pound traded flat yesterday, hovering near last week's 37-year low amid concerns over weak economic outlook. Further, a rise in UK 10 year’s bond yields restricted downside

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