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The Rupee weakened at open toward the 91-per-dollar mark at Tuesday's open, a level traders associate with Reserve Bank of India defence, weighed down by fragile risk appetite and a dip in regional currencies. The rupee reversed course on Monday after opening on a firmer note following the U.S. Supreme Court’s ruling on tariffs. After touching an intraday high of 90.6750, the currency ran into familiar headwinds flagged by bankers — importer demand for immediate dollar payments and near-term hedging, alongside a broader reluctance among market participants to sell the U.S. currency. Asian currencies and equities retreated on Tuesday, tracking losses on Wall Street, amid investors assessing the implications of fresh uncertainty surrounding U.S. President Donald Trump’s tariff policies. Trump warned countries against retreating from recent trade deals after the Supreme Court struck down his emergency tariffs. U.S. Treasury yields fell alongside the selloff in equities, with the 10-year sliding to near 4.02%. The decline in yields offered little support to Asian currencies, which remained under pressure amid risk aversion. The dollar languished on Tuesday as Asian markets weighed the fallout on global trade from renewed turbulence over U.S. President Donald Trump's tariff regime. The greenback held losses as China and Japan reopened after holidays and Trump warned countries against retreating from recent trade deals after the Supreme Court struck down his emergency tariffs. The dollar index , which measures the greenback against a basket of currencies, was flat at 97.69, after a swoon of as much as 0.45% in the prior session. The euro rose 0.07% at $1.1793, while the yen weakened 0.03% against the greenback to 154.71 per dollar. Trump said on Saturday he would raise a temporary tariff from 10% to 15% on U.S. imports from all countries, the maximum level allowed under the law. On Monday, he took to social media to say that countries that "play games" in the wake of the Supreme Court's ruling would be hit with even higher duties. The Australian dollar strengthened 0.1% versus the greenback to $0.7061. New Zealand's kiwi rose 0.08% to $0.5961. Oil prices rose on Tuesday, nearing seven-month highs, with traders assessing geopolitical risks ahead of another round of U.S.-Iran nuclear talks, while U.S. trade policy uncertainty added to broader concerns. Brent crude futures rose 59 cents, or 0.8%, to $72.08 a barrel by 0424 GMT, while U.S. crude futures climbed 57 cents, or 0.9%, to $66.88 a barrel.......
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GlobalFX

The US dollar weakened sharply against other major currencies after data showed that the US economy suffered a record contraction in Apr-Jun, while jobless claims rose in the week ended Saturday also rose.The US unit also extended its decline globally on Thursday after Trump raised the possibility of delaying presidential election in the US, scheduled for November.European Stocks ended lower on Thursday due to mounting concern over sluggish economic recovery and a possible second wave of the COVID-19 pandemic.Germany reported its worst decline in GDP since 1970, with the Eurozone’s largest economy shrinking 10.1% quarter-on-quarter in Apr-Jun.Corporate earnings were high on investors' agenda on Thursday.In the US, Most share indices ended lower on Wednesday following bleak economic data.Lack of progress in talks between Congressional Democrats, Republicans and the White House on a new coronavirus aid package also weighed on sentiment.Gold futures settled lower on Thursday after nine consecutive days of gains, with the bullion retreating from a record rally as traders booked some profit.......
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