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The Rupee closed rangebound on Friday even as as prices of crude oil jumped about 3% to a two-month high on Thursday. A rise in oil prices increases India's import bill, which subsequently dampens sentiment for the rupee. Meanwhile, the dollar index fell to more than a one-month low as investors assessed whether the US Federal Reserve will slow or possibly halt its tightening cycle in the second half of the year, reducing the attraction of the safe-haven currency. In the US, equities ended higher on Thursday as solid earnings outlooks by retailers boosted investor confidence, given supply-chain disruptions and inflationary pressures have been fuelling economic growth concerns of late.......
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GlobalFX

The dollar was lower against a basket of major currencies in the early Asian trade today. On Wednesday, the greenback rose after minutes from the Federal Reserve's May meeting showed that most participants believed half-a-percentage-point rate increases would likely be appropriate in June and July. The yield on the benchmark 10-year US Treasury note ended slightly lower on Wednesday after minutes from the US Federal Reserve showed policymakers have agreed to hike interest rates by a half-percentage point to combat inflation and said a "very strong" economy may require reducing monetary supply.......
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