The Rupee closed weaker on Thursday. The dollar index rose slightly after the US GDP numbers for Jul-Sep showed that the world's largest economy grew faster than previously estimated. Asian currencies were mostly weaker with the Indonesian rupiah leading losses down by 0.6%. The dollar index was largely steady in Asia but fell to its lowest in over three months overnight. The 10-year U.S. treasury yield inched higher in Asia to 4.28% but is on course for its largest monthly decline in more than two years as softening in U.S. economic data cemented bets that the U.S. Federal Reserve is done hiking policy rates. The euro fell on Thursday after euro zone inflation eased by more than forecast this month, fuelling bets of early European Central Bank rate cuts. Gold prices eased on Thursday as the dollar staged a rebound ahead of U.S. inflation data, although bullion was heading for its second monthly rise boosted by hopes that the Federal Reserve would cut interest rates soon. Oil prices nudged higher awaiting OPEC+'s decision.......
The dollar was on the defensive and trading by multi-month lows on the euro and a handful of other major currencies on Tuesday, as investors expect U.S. interest rates to fall next year and see that as a signal to sell the dollar in anticipation. The yuan also hit a three-month high on the dollar on Monday as the central bank guided it higher. The Australian and New Zealand dollars had followed suit. The Australian dollar was marginally firmer at $0.6561, just below Monday's three-month high of $0.6564. The New Zealand dollar was steady at $0.6040. The index , which measures the dollar against a basket of six major currencies, fell 1.9% last week alongside a big rally in U.S. Treasures, and lost a further 0.5% overnight to 103.44.......