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Daily Currency Snapshot

• US$INR future maturing on August 26 traded flat on Tuesday amid uptick in domestic equities market. Further, a sharp rise in crude oil prices restricted further appreciation

• The US dollar tumbled almost 0.40% from its mid-July highs after data showed US private sector activity contracted for a secondstraight month in August, raising prospects that Federal Reserve will ease its rate hiking cycle

• The Euro rebounded back yesterday from its two decade lows amid strong economic data from the euro area. The Germany manufacturing PMI increased to 49.8 in August 2022 from 49.3 in the previous month and above market expectations of 48.2. However, sharp upside was capped by weak services PMI data • The pound appreciated almost 0.50% yesterday amid weakness in US dollar and stronger than expected services PMI data from Britain. The UK services PMI edged down to 52.5 in August of 2022 from 52.6 in July, much better than market expectations of 52.0

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