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Daily Currency Snapshot

The rupee depreciated yesterday amid strong dollar and concerns over a slowdown in the global economy. Additionally, investors remained vigilant ahead of US Federal Reserve’s monetary policy meeting where the central bank is likely to raise interest rates by 75 bps. However, sharp fall was prevented on softening crude oil prices

The US dollar appreciated on Monday as the Fed is likely to deliver another big rate hike. However, sharp upside was capped on disappointing economic data from the country

The Euro depreciated on Monday amid a strong dollar and as eurozone CPI data showed inflation remained hot. Europe inflation grew 10.7% in October, up from 9.9% in September. However, sharp downside was cushioned on stronger-than-expected German retail sales data, which grew 0.9%

The pound depreciated yesterday amid strong dollar and on concerns rising borrowing cost would hamper economic growth. Additionally, market participants remained cautious ahead of BoE’s monetary policy meeting where the central bank is likely to hike rates by 75 bps

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