The U.S. dollar rose in early European trade Thursday - GEPL Capital
News / Other data
* The dollar strengthened on Thursday after unemployment claims pointed to a still strong U.S. jobs market and other data showed growing labor costs, indicating the Federal Reserve has further to go in raising interest rates to tame inflation.
* Pakistan's rupee touched a record low and its dollar bonds slumped on Thursday as the country struggles to unlock critical IMF funding, while a bigger-than-expected interest rate hike failed to revive its markets.
* The U.S. dollar rose in early European trade Thursday, regaining its firm footing, while the euro slipped ahead of key Eurozone inflation data. At 03:05 ET (08:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% higher at 104.737, near two-month highs.
* Most Asian currencies sank on Thursday as growing fears of a more hawkish Federal Reserve spurred an overnight spike in Treasury yields, while a swathe of weak regional economic data also dented sentiment.
* Australia's central bank is launching 14 pilot projects with the financial industry to develop real world applications for a digital Australian dollar, with the focus on business use rather than a new public means of exchange.
* The US dollar retreated in Europe Wednesday while the Chinese yuan rose sharply after economic data pointed to a recovery in the second largest economy in the world, sparking risk-on sentiment
Data inference
* No Major Event.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory