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The Rupee opened weak near the 91 level on Tuesday, with persistent flow-driven dollar demand keeping the risk of a slide to an all-time low in play. The currency settled at 90.91 in the previous session, after plumbing to an intraday low of 90.99 and briefly inching past 91 on the interbank order-matching system, underscoring the intensity of the selling pressure. The non-deliverable forward market signalled the rupee is likely to remain under pressure at Tuesday's open, pointing to a flat-to-slightly weaker start. Bankers said price action over the last two sessions has been particularly telling, with the rupee coming under considerable pressure on Friday and then extending its decline on Monday despite broadly supportive cues from Asian currencies. Meanwhile, Asian currencies were mixed on Tuesday, while The dollar index retreated to its lowest level in a week. Threats from the White House towards the European Union over the future of Greenland weighed on the dollar index, while triggering a selloff in US equity futures. Australia's second-biggest ?pension fund says it is reducing its exposure to the U.S. dollar through currency ?hedging as falling interest rates and ongoing global volatility have investors around the world reassessing their U.S. allocations. The dollar retreated to its lowest level in a week ?in early trading on Tuesday after threats from the White House towards the European Union over the future of Greenland triggered a broad selloff across U.S. stocks and government bonds. The dollar index , which measures the greenback's strength against a basket of six currencies, slid 0.1% to 99.004 - its lowest level since January 14 as investors worried about exposure ?to U.S. markets. The yield on the U.S. 10-year Treasury bond was up 3.0 basis points at 4.2586%. Fed funds futures are pricing an implied 94.5% probability that the U.S. central bank will remain on hold at its next two-day meeting next week, little changed from Friday, according to the CME ?Group's FedWatch tool. Against the Chinese ?yuan trading offshore in Hong Kong , the dollar was holding steady at 6.9536 yuan. Later on Tuesday, the People's Bank of China is expected to leave benchmark ;4nding rates unchanged for an eighth straight month in January, a Reuters survey showed. The ?Australian dollar was down 0.1% at $0.6710, while the New Zealand ?dollar slipped 0.1% to $0.5794, edging back from a two-week high. The euro was flat at $1.1640, while the British pound was also steady ?at $1.3427. Oil prices rose on Tuesday after better-than-expected economic growth ?data from China lifted demand optimism, with markets also watching President Dlnald Trump's threats of ?increased U.S. tariffs on European nations over his desire to buy Greenland. Brent futures rose 19 cents, or 0.3%, to $64.13 a barrel by 0100 GMT.......
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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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